TMC Q1 net loss $20.6M; $37M strategic investment; first-ever commercial recovery permit filed

TMC the metals Co Inc.

2025-Q1 EPS reported $0.06

Q1 net loss $20.6M ($0.06 loss per share) vs $25.1M loss YoY; cash $2.3M, total liquidity $43.8M including credit facility.
Registered direct offering raising $37M gross (12.3M shares at $3.00) led by Hess and Paes-Braga, with 3-year warrants at $4.50.
TMC USA submitted first-ever commercial recovery permit application under U.S. DSHMRA on April 29, 2025, ahead of schedule.
President Trump signed Executive Order on April 24 directing expedited deep-sea mining permitting; CEO testified to House committee.
Appointed Rutger Bosland as CIOTO; PAMCO smelted 450 tonnes of nodules into NiCuCo alloy and Mn silicate at scale.

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