TMC announces ~$37M registered direct offering; preliminary Q1 cash $2.3M, operating loss $20.6M

TMC the metals Co Inc.

Registered direct offering of 12,333,333 common shares at $3.00/share with Class C warrants at $4.50; gross proceeds ~$37M.
Preliminary Q1 2025 cash $2.3M, short-term debt ~$10M, operating expenses $18.0M, operating loss $20.6M, net cash used in ops $9.3M.
TMC USA submitted exploration license and commercial recovery permit applications to NOAA under DSHMRA in April 2025.
Undrawn $41.5M under credit facility; ~$9.8M available under ATM as of filing date.
Class C warrants have 3-year term, 4.99% beneficial ownership limitation, and call option if VWAP >$7.00 for 20 consecutive days.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.