Thumzup Media Corporation has revised its SEC Form S-3 registration statement, increasing its maximum issuance amount from $200 million to $500 million.
The company stated that net proceeds from capital raises will be allocated for general corporate purposes, working capital, and specifically, for purchasing Bitcoin (BTC). Thumzup's board previously authorized allocating up to 90% of its liquid assets to BTC, integrating digital assets into its long-term growth plans. The updated filing enables the company to raise up to $500 million through various financial instruments over the next three years, including stock, notes, and warrants. Thumzup clarified that it does not currently intend to sell securities immediately, with each capital raise requiring a separate prospectus.