Thumzup Media Corporation Authorizes Share Repurchase Program of Up to $1 Million

Rhea-AI Summary

Thumzup Media (TZUP) has announced a share repurchase program of up to $1 million of its common stock, demonstrating its commitment to enhancing shareholder value. The company recently completed an $8.2 million common-stock offering at $5 per share concurrent with its Nasdaq listing in October 2024.

Notable developments include insider purchases of approximately $62,000 in common stock between $3.20 and $4.73 during the last trading window. The platform has shown significant growth, surpassing 700 advertisers with a CAGR exceeding 200%. The company is actively exploring potential acquisitions of businesses generating significant revenues and positive operational cash flows.

The stock buybacks will be executed at management's discretion under Rule 10b-18 of the Exchange Act, considering market conditions and other factors.

Positive

• Authorization of $1 million share repurchase program indicates confidence in company's future
• Strong financial position with recent $8.2M capital raise at $5 per share
• Insider buying of $62,000 demonstrates management confidence
• Significant platform growth with 700+ advertisers and 200%+ CAGR
• Actively pursuing revenue-generating acquisition opportunities

Negative

• Current stock price trading below recent $5 offering price
• Share repurchase program may reduce cash available for operations and growth

Company Closed $8.2 Million at $5 per Share in a Common-Stock Only Offering Simultaneous with Its Nasdaq Listing in October 2024

Insiders Purchased Approximately $62,000 in Common Stock Between $3.20 and $4.73 During the Last Trading Window

Platform Recently Surpassed 700 Advertisers - CAGR of Over 200 percent

Thumzup is Actively Evaluating Potential Acquisitions that are Generating Significant Revenues and Positive Cashflows from Operations

LOS ANGELES, March 12, 2025 /PRNewswire/ -- Thumzup Media Corporation ("Thumzup" or the "Company") (Nasdaq: TZUP), an emerging leader in social media branding and programmatic marketing solutions, today announced that its board of directors authorized a share repurchase program of up to $1 million of the Company's common stock.

The authorization demonstrates Thumzup's commitment to enhancing shareholder value. The stock buybacks will be executed at management's discretion, considering market conditions and other pertinent factors.

"We believe that this repurchase program reflects our confidence in Thumzup's growth trajectory and the opportunity to deploy capital strategically," commented Robert Steele, Chief Executive Officer of Thumzup Media Corporation. "Additionally, the authorization reflects Thumzup's dedication to enhancing shareholder value while leveraging its strong financial position."

The share repurchase program is in accordance with Rule 10b-18 of the Exchange Act. Subject to applicable rules and regulations, the shares may be purchased from time to time in the open market or in privately negotiated transactions. Such purchases will be at times and in amounts as the Company deems appropriate, based on factors such as market conditions, legal requirements and other business considerations.

The Thumzup app is available for download on the App Store and Google Play.

About Thumzup®

Thumzup Media Corporation (Thumzup) is democratizing the multi-billion dollar social media branding and marketing industry. Its flagship product, the Thumzup platform, utilizes a robust programmatic advertiser dashboard coupled with a consumer-facing App to enable individuals to get paid cash for posting about participating advertisers on major social media outlets through the Thumzup App. The easy-to-use dashboard allows advertisers to programmatically customize their campaigns. Cash payments are made to App users/creators through PayPal and other digital payment systems.

Thumzup was featured on CBS Los Angeles and in KTLA.

Legal Disclaimer

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its potential growth, impacts on the advertising industry, plans for potential uplisting, and planned expansion. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in our filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

View original content to download multimedia:https://www.prnewswire.com/news-releases/thumzup-media-corporation-authorizes-share-repurchase-program-of-up-to-1-million-302399522.html

SOURCE Thumzup Media Corporation

FAQ

How much is Thumzup's (TZUP) share repurchase program worth?

Thumzup's board has authorized a share repurchase program worth up to $1 million of the company's common stock.

What was the size and price of TZUP's recent Nasdaq listing offering?

Thumzup raised $8.2 million through a common-stock offering at $5 per share during its Nasdaq listing in October 2024.

What is the current growth rate of Thumzup's advertiser base?

Thumzup has exceeded 700 advertisers with a CAGR of over 200 percent.

How much insider buying occurred during TZUP's last trading window?

Insiders purchased approximately $62,000 in common stock at prices ranging between $3.20 and $4.73.

How will TZUP implement its share repurchase program?

The buybacks will be executed at management's discretion in open market or private transactions, following Rule 10b-18 of the Exchange Act.