---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-091388"
form_type: "8-K"
ticker: "TMC"
cik: "0001798562"
company_name: "TMC the metals Co Inc."
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T12:15:04.555886+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# TMC raises ~$27M at $2.00/share (82% premium); reports Q2 net loss $14.1M; targets Q4 2025 commercial production

## Summary
- Registered direct offering expected gross proceeds ~$27M from existing investors at $2.00/share, 82% premium to Aug 11 close; may upsize to $38M.
- Q2 2023 net loss $14.1M ($0.05/share) vs $12.4M loss prior year; cash $20.0M, no debt.
- NORI plans to submit exploitation contract application after July 2024 ISA meeting; targets commercial production Q4 2025.
- Production capacity target increased 130% to 3.0M wet tonnes per annum using Hidden Gem vessel.
- Participation by largest shareholder ERAS Capital, Allseas, and insiders; warrants at $3.00 strike with call provision at $6.50 VWAP.

## SEC filing metadata
- accession: 0001104659-23-091388
- form_type: 8-K
- ticker: TMC
- cik: 0001798562
- company_name: TMC the metals Co Inc.
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1798562/000110465923091388/0001104659-23-091388-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1798562/000110465923091388/tm2322494d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-091388
- JSON: https://secwatch.observer/filing/0001104659-23-091388.json
- Plain text: https://secwatch.observer/filing/0001104659-23-091388.txt

## Key facts
- Earnings Releases
  TMC the metals Co Inc. reported the second quarter ended June 30, 2023 results: net income Net loss of $14.1 million, EPS $0.05 per share.
  - Period: the second quarter ended June 30, 2023
  - Net income: Net loss of $14.1 million
  - EPS: $0.05 per share
  - Result: reported results
  source text: Net loss of $14.1 million and per share amount of $0.05 for the quarter ended June 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1798562/000110465923091388/0001104659-23-091388-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.