Thumzup Media plunges after $50 million stock sale

Datacentrex

11/08/2025 15:22

** Digital asset hoarder Thumzup Media's TZUP.O shares slump 33.2% to $10.32

** TZUP announces pricing of $50 million stock offering at $10 apiece, a 35.3% discount to the last close

** Proceeds will be used to accumulate cryptocurrencies and mining equipment and other purposes

** Dominari Securities was the exclusive placement agent for the offering

** TZUP has expanded its treasury strategy beyond bitcoin to other cryptocurrencies, such as dogecoin, litecoin, solana and ether

** As of last close, TZUP stock up 350.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))