Appointed
Michael B. Hess
director
TMC ·
TMC the metals Co Inc.
appointed Michael B. Hess and Alex Spiro as directors, effective June 16, 2025
Ready 8-Ks
50
Latest filing
May 29, 2026, 5:05 PM ET
Top materiality
0.90
Event mix
other_material ×20 · earnings ×10 · regulatory ×9
Sentiment
18 pos · 7 neg · 25 neu
Latest earnings
reported 2025-Q3
Executive change
recent →
Recent 8-K filings for TMC
Highest-materiality recent filing
TMC secures $85.2M strategic investment from Korea Zinc; closes June 26
- Korea Zinc to buy 19.6M shares at $4.34 share/unit and receive warrants for 6.9M shares at $7.00, gross proceeds $85.2M.
- Korea Zinc becomes ~5% shareholder; gets participation right in future equity offerings and board observer seat.
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Quorum of 49.3% (213,376,047 shares) present or represented at the May 28, 2026 annual meeting.
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NOAA certifies TMC USA's exploration license for USA B; 1.02B tonne nodule resource
NOAA formally certified TMC's USA B exploration license application under Deep Seabed Hard Mineral Resources Act.
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TMC Q1 net loss $20.6M flat YoY; signs Allseas commercial nodule deal, NOAA advances permit
Net loss $20.6M ($0.05/share) vs $20.6M ($0.06/share) prior year; cash $119.7M, no financial debt.
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NOAA finds TMC USA's deep-sea mining application in full compliance; permit expected by Q1 2027
NOAA determined TMC USA's consolidated application under DSHMRA is in full compliance, following substantial compliance in March.
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TMC reports FY 2025 net loss $319.8M, advances US deep-sea mining permitting and Brownsville hub
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.
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NOAA finds TMC's consolidated deep-sea mining application in substantial compliance
Application covers ~65,000 km² in Clarion Clipperton Zone, up from ~25,000 km² in April 2025.
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Application covers ~65,000 km² (up from ~25,000 km²) in the Clarion Clipperton Zone with 619 Mt wet nodules resource plus 200 Mt upside.
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TMC completes vertical amalgamation with subsidiary DGM to simplify structure
Effective Jan 1, 2026, TMC amalgamated with wholly owned subsidiary DeepGreen Metals ULC.
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TMC Q3 net loss $184.5M ($0.46/sh); cash $115.6M; nodule reserve declared
Net loss $184.5M ($0.46/sh) vs $20.5M ($0.06/sh) YoY; operating loss $55.4M.
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TMC shareholders approve increase in equity plan share pool to 110.3M shares
Share pool raised from 70,262,856 to 110,262,856 shares under amended 2021 Incentive Equity Plan.
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TMC reports Q2 net loss $74.3M; publishes NORI-D PFS with $5.5B NPV, targets Q4 2027 production
Q2 2025 operating loss $22M, net loss $74.3M ($0.20/share); cash $115.8M at June 30, 2025.
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TMC releases PFS and IA with combined NPV of $23.6B; declares world-first nodule reserves
PFS for NORI-D shows after-tax NPV $5.5B, IRR 27%, 51 Mt probable reserves with 18-yr mine life.
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TMC enters revised sponsorship with Tonga, issues warrant for 1M shares at $5.87
TOML subsidiary enters revised sponsorship agreement with Kingdom of Tonga, replacing 2021 agreement.
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TMC closes $85.2M private placement with Korea Zinc and $37M direct offering
Closed private placement with Korea Zinc on June 25, 2025: 19,623,376 shares and warrant for 6,868,181 shares; gross proceeds $85.2M.
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Board size increased to 10; Michael Hess (CIO of Hess Capital) and Alex Spiro (litigator/investor) appointed as directors effective June 16, 2025.
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TMC secures $85.2M strategic investment from Korea Zinc; closes June 26
Korea Zinc to buy 19.6M shares at $4.34 share/unit and receive warrants for 6.9M shares at $7.00, gross proceeds $85.2M.
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TMC revises Nauru sponsorship, issues 9.1M warrants; hires Hess with large equity awards
Revised Sponsorship Agreement with Nauru guarantees financial benefits from commercial production; warrant issued for 9,146,268 shares at $4.72.
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NOAA determined TMC USA's exploration license apps for USA-A and USA-B areas are in substantial compliance under DSHMRA.
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TMC Q1 net loss $20.6M; $37M strategic investment; first-ever commercial recovery permit filed
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.
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TMC announces ~$37M registered direct offering; preliminary Q1 cash $2.3M, operating loss $20.6M
Registered direct offering of 12,333,333 common shares at $3.00/share with Class C warrants at $4.50; gross proceeds ~$37M.
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TMC USA files for commercial recovery permit and exploration licenses under U.S. seabed mining code
Applications submitted to NOAA pursuant to Deep Seabed Hard Mineral Resources Act following April 2025 Executive Order.
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TMC initiates U.S. seabed mining permit process under DSHMRA; expects Q2 2025 application
Subsidiary TMC USA formally requests pre-application consultation with NOAA for exploration licenses and commercial recovery permits under 1980 Deep Seabed Hard Mineral Resources Act.
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TMC Metals reports 2024 net loss $81.9M; initiates U.S. seabed mining permit process in Q2 2025
FY 2024 net loss $81.9M ($0.25/sh) vs $73.8M ($0.26/sh) in 2023; Q4 net loss $16.1M ($0.05/sh).
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TMC regains compliance with Nasdaq minimum bid price requirement after 10-day $1.00 close
Received Nasdaq notice on Jan 6, 2025 that closing bid price was below $1.00 for 34 consecutive business days.
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TMC receives Nasdaq deficiency notice for bid price below $1; 9 consecutive days above
Nasdaq notified TMC on Jan 6, 2025 that its common shares' closing bid price was below $1.00 for 34 consecutive trading days.
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TMC ups registered direct offering to $19.9M, adds 2.4M shares and warrants
Amended securities purchase agreement to increase offering by 2.4M common shares and 1.2M Class B warrants at $1.00 per unit.
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TMC raises $17.5M in registered direct offering of common shares and Class B warrants
Offering of 17.5M common shares at $1.00 each with Class B warrants to buy 8.75M shares at $2.00.
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Net loss of $20.5M ($0.06/share) vs $12.5M ($0.04) in Q3 2023.
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TMC updates NORI ISA application date to June 27, 2025; Q3 cash $0.4M, ops expenses $20M
NORI expects to submit exploitation contract application to ISA on June 27, 2025; Nauru requests process clarity at March 2025 ISA Council.
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TMC increases working capital loan from Allseas from $5M to $7.5M
Amended working capital loan with Allseas Investments SA: loan amount increased from $5M to $7.5M.
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TMC enters $5M working capital loan from Allseas Investments, matures April 2025
Loan of $5 million from Allseas Investments SA, a related party, for general corporate purposes and to repay a $2M short-term loan from Argentum.
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TMC ups unsecured credit facility from $25M to $27.5M via third amendment with Argentum/Allseas
Borrowing limit increased to $27.5M aggregate; will revert to $25M upon $1.5M financing event.
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TMC metals reports Q2 2024 net loss of $20.2M, liquidity of $48.3M from credit facilities
Net loss $20.2M ($0.06 loss per share) vs $14.1M ($0.05 loss) in Q2 2023.
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TMC the metals company reports 2024 annual meeting shareholder vote results
Shareholders set board size at nine with 198,343,060 votes for.
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SEC concludes investigation into TMC's 2020 and 2021 transactions; no enforcement action recommended
SEC notified TMC on May 24, 2024 that it has closed its investigation into the 2020 Tonga Offshore Mining acquisition and 2021 business combination.
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TMC posts Q1 net loss of $25.2M, widening from $13.7M; cash use $11.9M
Net loss $25.2M ($0.08/share) vs $13.7M ($0.05) year ago; exploration expenses rose to $18.1M from $7.2M.
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TMC enters new employment agreement with CEO Gerard Barron; receives 20M performance-based RSUs
Base salary set at $750,000; annual cash bonus target 75% of base salary.
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TMC appoints Steve Jurvetson as Vice Chair and special advisor; grants options for 3.44M shares
Steve Jurvetson appointed to Board as Vice Chair effective April 9, 2024.
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TMC restates Q1-Q3 2023 financials; Q4 net loss $33.5M, FY loss $73.8M
Audit committee concludes Q1-Q3 2023 financials should be restated; NORI royalty transaction reclassified as debt, not gain.
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TMC removes Stifel as sales agent under $30M ATM equity distribution agreement
Amendment removes Stifel, Nicolaus & Company as an agent; Wedbush Securities remains sole agent.
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TMC obtains court order against Greenpeace; files $100M shelf registration
Court ordered Greenpeace to disembark from TMC's research vessel in the CCZ with immediate effect.
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TMC reports Q3 net loss of $12.5M, cash $22.5M; targeting Q4 2025 production
Net loss of $12.5M ($0.04/share) vs $27.9M ($0.12/share) in Q3 2022; exploration expenses fell to $7.9M from $22.7M.
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TMC raises ~$27M in registered direct offering at $2.00/unit with warrants
Sold 13.46M common shares and Class A warrants to buy 6.73M shares at $2.00/unit; gross proceeds ~$27M.
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Registered direct offering expected gross proceeds ~$27M from existing investors at $2.00/share, 82% premium to Aug 11 close; may upsize to $38M.
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NORI intends to submit ISA exploitation contract application after July 2024; expects production Q4 2025 if approved.
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TMC regains Nasdaq minimum bid price compliance; matter closed
Received Nasdaq deficiency notice on Apr 19, 2023 for bid price below $1.00 for 30 consecutive days.
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Maersk completes sale of all its common shares in TMC
A.P. Moller – Maersk notified TMC on June 8, 2023 it has sold all previously owned common shares.
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TMC shareholders elect eight directors and ratify Ernst & Young as auditor at 2023 annual meeting
Quorum of 148,188,281 shares (52.8%) present; board size set at eight directors.
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TMC Q1 2023: net income nil, cash $28.4M; advances nodule processing MoU with PAMCO
Net income of $nil vs net loss of $21.1M in Q1 2022, including $14M gain on sale of 2% NORI royalty.
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TMC receives Nasdaq deficiency notice for bid price below $1; has 180 days to comply
Nasdaq notified TMC on Apr 19, 2023 that common shares' closing bid price was below $1.00 for 30 consecutive trading days.
Executive changes
Appointed
Alex Spiro
director
TMC ·
TMC the metals Co Inc.
appointed Michael B. Hess and Alex Spiro as directors, effective June 16, 2025
Appointed
Steve Jurvetson
Special Advisor to the Chief Executive Officer
TMC ·
TMC the metals Co Inc.
the Company engaged Mr. Jurvetson as a special advisor to the Company’s Chief Executive Officer
Appointed
Steve Jurvetson
Director and Vice Chair of the Board
TMC ·
TMC the metals Co Inc.
appointed Steve Jurvetson as a director and Vice Chair of the Board, effective April 9, 2024
Role change
Andrew Hall
Lead Independent Director
TMC ·
TMC the metals Co Inc.
Mr. Greig was appointed as Lead Independent Director, replacing Andrew Hall.
Appointed
Andrew Greig
Lead Independent Director
TMC ·
TMC the metals Co Inc.
Mr. Greig was appointed as Lead Independent Director, replacing Andrew Hall.
Departed
Anthony O’Sullivan
Chief Development Officer
TMC ·
TMC the metals Co Inc.
On October 14, 2022, Anthony O’Sullivan notified TMC the metals company, Inc. (the “Company”) that he was resigning as the Company’s Chief Development Officer, though he will remain in the position through a twelve-month transition period.
Departed
Gina Stryker
Director
TMC ·
TMC the metals Co Inc.
On September 27, 2022, Gina Stryker, who had served on the Board of Directors (the “Board”) of TMC the metals company Inc. (the “Company”) since the closing of the Company’s business combination transaction in September 2021 and was a member of the Audit Committee of the Board, resigned from the Board.
Appointed
Andrew C. Greig
Director
TMC ·
TMC the metals Co Inc.
On September 29, 2022, the Board appointed Andrew C. Greig to the Board, for a term to continue until the 2023 annual meeting of the Company’s shareholders or until his earlier death, resignation or removal.
Appointed
Kathleen McAllister
Director
TMC ·
TMC the metals Co Inc.
On February 9, 2022, the Board of Directors (the “Board”) of TMC the metals company Inc. (the “Company”) appointed Kathleen McAllister to the Board as an independent director, for a term to continue until the 2022 annual meeting of the Company’s shareholders or until her earlier death, resignation or removal.
Departed
Scott E. Leonard
Director
TMC ·
TMC the metals Co Inc.
On December 24, 2021, Scott E. Leonard resigned, effective immediately, from the Board of Directors (the “Board”) of the Company to focus on other endeavors.
Earnings & guidance
Materiality & sentiment trend
Max materiality 0.90 · Median 0.68 · Most common event other_material