TMC Q3 net loss $20.5M ($0.06/share), registers $17.5M offering; NORI targets June 2025 ISA application

TMC the metals Co Inc.

2024-Q3 EPS reported $0.21

Net loss of $20.5M ($0.06/share) vs $12.5M ($0.04) in Q3 2023.
Registered direct offering raised min $17.5M at $1.00/share, 50% warrant coverage at $2.00/share, led by largest non-affiliate institutional holder.
NORI sets June 27, 2025 for ISA exploitation application; expects quarterly cash use <$5M during application review.
Cash at Sep 30, 2024: $0.4M; total liquidity ~$63M including $17.5M offering proceeds and $10.5M increase in credit facilities.
Exploration expenses $11.8M (up from $7.9M), G&A $8.1M (up from $4.6M), driven by share-based comp and personnel.

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