---
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"
generated_at: "2026-05-22T00:10:31.030045+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.02, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-047373
- JSON: https://secwatch.observer/filing/0001104659-25-047373.json
- Plain text: https://secwatch.observer/filing/0001104659-25-047373.txt

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