{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-038460","form_type":"8-K","ticker":"TMC","cik":"0001798562","company_name":"TMC the metals Co Inc.","filed_at":"2024-03-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.569530+00:00","generated_at":"2026-06-04T08:35:38.913199+00:00","sec_items":["2.02","4.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"TMC restates Q1-Q3 2023 financials; Q4 net loss $33.5M, FY loss $73.8M","bullets":["Audit committee concludes Q1-Q3 2023 financials should be restated; NORI royalty transaction reclassified as debt, not gain.","Restatement had no impact on annual 2023 audited financials or cash; adjusts gain by $13.75M, adds $14M royalty liability.","Q4 2023 net loss $33.5M ($0.11/share) vs $109.6M ($0.41) YoY; full year net loss $73.8M ($0.26) vs $171M ($0.71).","Cash $6.8M at Dec 31; pro forma liquidity ~$61M including new $20M credit facility from largest shareholder.","NORI-D first production now expected Q1 2026; binding MoU with PAMCO to process 1.3M wet tonnes of nodules."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-038460","json":"https://secwatch.observer/filing/0001104659-24-038460.json","markdown":"https://secwatch.observer/filing/0001104659-24-038460.md","text":"https://secwatch.observer/filing/0001104659-24-038460.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1798562/000110465924038460/0001104659-24-038460-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1798562/000110465924038460/tm249627d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T08:35:38.913199+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a4d4c473342d9379863c2f446c71d72e4afdd7ba","claim":"TMC the metals Co Inc. reported fourth quarter and full year ended December 31, 2023 results: net income Net loss of $33.5 million and net loss per share of $0.11 for the quarter ended December 31, 2023, EPS $0.11.","evidence_excerpt":"On March 25, 2024, TMC the metals company Inc. (the “Company”) issued a press release announcing its results for the fourth quarter and full year ended December 31, 2023 and providing a business update.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1798562/000110465924038460/0001104659-24-038460-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fourth quarter and full year ended December 31, 2023"},{"label":"Net income","value":"Net loss of $33.5 million and net loss per share of $0.11 for the quarter ended December 31, 2023"},{"label":"EPS","value":"$0.11"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}