ChainCatcher reports, Nasdaq-listed Thumzup Media Corporation announced that it has submitted an amendment to the "universal shelf" registration statement Form S-3 to the U.S. Securities and Exchange Commission (SEC), increasing the maximum total issuance amount from $200 million to $500 million.
Once effective, this increased registration statement will allow Thumzup to raise up to $500 million to increase operating capital and further advance its BTC acquisition strategy. The company's board of directors has previously authorized Thumzup to allocate up to 90% of its liquid assets to BTC as part of its capital management strategy.
According to the issuance terms, Thumzup can raise funds through one or multiple issuances within three years after the registration statement becomes effective, using various securities, including common stocks, preferred stocks, warrants, debt securities, purchase contracts, and/or units.
