Entry into a Material Definitive Agreement · Regulation FD Disclosure
Item 1.01. Entry Into a Material Definitive Agreement. On May 12, 2025, Thumzup Media Corporation (the “Company”) entered into that certain Master Loan Agreement (the “MLA”) with Coinbase Credit, Inc.…
Filed May 13, 2025Accepted May 13, 2025, 10:15 AM EDTCIK 1853825Accession 0001641172-25-009858
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.
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Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01. Entry Into a Material Definitive Agreement.
On May 12, 2025, Thumzup Media Corporation (the “Company”)
entered into that certain Master Loan Agreement (the “MLA”) with Coinbase Credit, Inc. (“Coinbase”)
and Coinbase, Inc., pursuant to which the Company and Coinbase may enter into transactions (each such transaction, a “Loan”)
in which Coinbase will lend to the Company certain Digital Assets or Cash against a transfer of Collateral (each as defined in the MLA).
Pursuant to the MLA, the Company and Coinbase shall agree on the terms of the Loan (which terms may be amended by mutual agreement of
the parties), including (i) the Digital Asset (as defined in the MLA) or currency of any Cash to be lent, (ii) the quantity of the Digital
Asset or Cash to be lent, (iii) the Loan Fee Rate (as defined in the MLA) to be paid by the Company to Coinbase, (iv) the type and amount
of fees to be charged (if any), (v) the type and amount of Collateral to be transferred by the Company to Coinbase, (vi) the day on which
the Loan is to commence, (vii) whether the Loan is for a fixed term or open, and if for a fixed term the term and maturity date of the
Loan, and (viii) any additional terms, and Coinbase shall confirm such Loan by sending a confirmation to the Company. Unless otherwise
agreed, the Company will transfer to Coinbase Collateral with a market value at least equal to the margin percentage of the market value
of the Loaned Asset (as defined in the MLA).
The Company has agreed to pay Coinbase a loan fee
(the “Loan Fee”) owed on each Loan, and Coinbase shall pay the Company any fee or amount owed, if applicable.
Any Loan Fee payable hereunder will be calculated daily based on a 365-day year for the actual number of days a Loan is open, by reference
to the Loaned Assets outstanding on each day under a Loan, based on the Loan Fee Rate and subject to the terms of the MLA. Additionally,
Coinbase will be entitled to receive all Distributions (as defined in the MLA) made on or in respect of the Loaned Digital Assets (as
defined in the MLA) which are not otherwise received by Coinbase, to the full extent it would be so entitled if the Loaned Digital Assets
had not been lent to the Company.
Pursuant to the terms of the MLA, each of the Company
and Coinbase have agreed that promptly upon (and in any event within five business after) demand by either party, the other party will
furnish the demanding party with its most recent audited and unaudited financial statements and any other financial statements mutually
agreed upon by the Company and Coinbase, and subject to certain conditions. The MLA additionally contains certain customary events of
default, including but not limited to (i) if the Company fails to transfer any Loaned Assets to Coinbase upon termination of the Loan
as required by the MLA, (ii) if Coinbase fails to transfer any Collateral to the Company upon termination of the Loan as required by the
MLA, (iii) if an insolvency event occurs with respect to either the company or Coinbase, (iv) if either party notifies the other of its
inability to or its intention not to perform its obligations pursuant to the MLA or otherwise disaffirms, rejects or repudiates any of
its obligations pursuant to the MLA, and (v) If any representation made by either party in respect of the MLA or any Loan or Loans pursuant
to the MLA is incorrect or untrue in any material respect during the term of any Loan made pursuant to the MLA. If such Events of Default
occur, the Coinbase will have the right to, among others and in addition to any other remedies provided in the MLA (a) purchase a like
amount of Loaned Digital Assets (“Replacement Digital Assets”) in a commercially reasonable manner, (b) to sell
any Collateral in a commercially reasonable manner, (c) freeze or otherwise suspend access to the Collateral, Accounts and/or certain
accounts and (d) to apply and set off the Collateral and any proceeds thereof against the payment of the purchase price for such Replacement
Digital Assets and any amounts due to Coinbase pursuant to the MLA.
The MLA additionally contains certain representations,
warranties, covenants and other provisions customary for agreements and transactions of this type. The foregoing description of the MLA
is qualified in its entirety by reference to the complete terms and conditions of the MLA (with certain confidential terms redacted, as
indicated thereon), which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item
7.01. Regulation FD Disclosure
On May 13, 2025, the Company issued a press release
announcing its entry into the MLA. A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and
incorporated herein by reference.
The information in this Current Report on Form 8-K
(including Exhibit 99.1 attached hereto) is being furnished pursuant to Item 7.01 and shall not be deemed to be filed for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject
to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933,
as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in
such filing.
Item 9.01 Financial Statements and
Exhibits.
(d) Exhibits.
Exhibit No. Description
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10.1 Master Loan Agreement, dated as of May 12, 2025, by and among the Company, Coinbase Credit, Inc. and Coinbase Inc.
99.1 Press Release, dated May 13, 2025 (furnished herewith pursuant to Item 7.01).
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
Filed exhibits (1)
EX-99.1 (by filename) ex99-1.htm
EX-99.1
3
ex99-1.htm
EX-99.1
Exhibit 99.1
Thumzup Media
Corporation Expands Capital Strategy With Bitcoin-Backed Credit Facility from Coinbase Prime
Thumzup Recently Filed a Shelf Registration
Statement to Raise Up to $500 Million for Working Capital and to Accelerate its Bitcoin (“BTC”) Acquisition Strategy
TZUP Currently
Holds 19.106 BTC with a Market Value of Approximately $2.0 Million as of May 12, 2025
The Company’s
Board of Directors Previously Authorized Thumzup to Hold Up to 90% of its Liquid Assets in Bitcoin Under its BTC Reserve Strategy
Los Angeles, CA - May 13, 2025 - Thumzup Media
Corporation (“Thumzup” or the “Company”) (Nasdaq: TZUP) today announced
it has expanded its capital strategy by establishing a Bitcoin (“BTC”) backed credit facility with Coinbase Prime (“Coinbase
Prime”) (Nasdaq: COIN ) to provide access to non-dilutive capital.
“We believe that Coinbase’s
addition to the S&P 500 marks a significant milestone for the entire crypto industry - Coinbase’s trailblazing journey
brought BTC and other tokens into the mainstream,” said Robert Steele, CEO of Thumzup. “We are proud to expand our relationship
with Coinbase through their Bitcoin-collateralize…