{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-047373","form_type":"8-K","ticker":"TMC","cik":"0001798562","company_name":"TMC the metals Co Inc.","filed_at":"2025-05-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.755720+00:00","generated_at":"2026-05-22T00:10:31.030045+00:00","sec_items":["1.01","2.02","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"TMC announces ~$37M registered direct offering; preliminary Q1 cash $2.3M, operating loss $20.6M","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-047373","json":"https://secwatch.observer/filing/0001104659-25-047373.json","markdown":"https://secwatch.observer/filing/0001104659-25-047373.md","text":"https://secwatch.observer/filing/0001104659-25-047373.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1798562/000110465925047373/0001104659-25-047373-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1798562/000110465925047373/tm2513980d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T00:10:31.030045+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}