Public company Thumzup submitted an amendment to increase the maximum total issuance amount to 500 million USD for the acquisition of Bitcoin.

On May 7, Nasdaq-listed Thumzup Media Corporation announced that it has submitted an amendment to the “universal shelf” registration statement S-3 to the 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 in funds to enhance its operating capital and further advance its Bitcoin (BTC) acquisition strategy. The company’s board of directors had 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 more issuances within three years after the registration statement becomes effective, using various securities, including common stock, preferred stock, warrants, debt securities, purchase contracts, and/or units.