secwatch.observer — SEC 8-K summary
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Issuer:     TMC the metals Co Inc. (TMC)
CIK:        0001798562
Form:       8-K
Filed at:   2026-03-27T23:59:59+00:00
Accession:  0001104659-26-035748
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TMC reports FY 2025 net loss $319.8M, advances US deep-sea mining permitting and Brownsville hub
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- Q4 2025 net loss $40.4M ($0.08/sh) vs $16.1M ($0.04/sh) in Q4 2024; FY net loss $319.8M ($0.83/sh) vs $81.9M ($0.25/sh) in 2024.
- Cash at Dec 31, 2025: $117.6M; total liquidity including undrawn credit facilities ~$162M.
- Exclusive negotiations for 1,466 acres at Port of Brownsville for 12 Mtpa nodule processing hub; prefeasibility study underway, conditional on US gov't support.
- On Mar 9, 2026, NOAA found TMC USA's consolidated deep-seabed mining application in substantial compliance under DSHMRA.
- Signed strategic partnership with Mariana Minerals on Mar 19 for feasibility study and AI-enabled process controls for Brownsville facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798562/000110465926035748/0001104659-26-035748-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798562/000110465926035748/tm269884d4_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-035748

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