Thumzup Media (TZUP) filed Tuesday an amendment to its universal shelf registration statement, increasing the maximum offering size to $500 million from $200 million.
Under the offering, the company said it may sell over a three-year period its common shares, preferred shares, warrants, debt securities, purchase contracts and/or units.
The company said the upsized offering will allow it to further its Bitcoin (BTC-USD) acquisition strategy. The company has board authorization to allocate up to 90% of its liquid assets to Bitcoin as part of its treasury strategy.
Shares were down 8% in recent trading.
Price: 4.96, Change: -0.43, Percent Change: -8.00
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