UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01. | Other Events. |
As previously announced, on June 16, 2025, TMC the metals company Inc. (the “Company”) entered into a securities purchase agreement in connection with a private placement with Korea Zinc Company, Ltd. (“Korea Zinc”). On June 25, 2025, the Company completed the closing of the private placement and issued to Korea Zinc 19,623,376 common shares and a warrant to purchase up to an additional 6,868,181 common shares for gross proceeds of approximately $85.2 million, which does not include any proceeds receivable upon exercise of the warrant.
As previously announced, on May 12, 2025, the Company entered into a securities purchase agreement in connection with a registered direct offering with certain new and existing investors. The Company has completed the closings of the registered direct offering and has issued to the investors an aggregate of 12,333,333 common shares and Class C warrants to purchase up to an aggregate of 12,333,333 common shares for aggregate gross proceeds of approximately $37.0 million, which does not include any proceeds receivable upon exercise of the Class C warrants.
Following the closings of these financings, the Company's cash balance is approximately $122.8 million as of June 30, 2025.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TMC THE METALS COMPANY INC. | ||
| Date: July 1, 2025 | By: | /s/ Craig Shesky |
| Name: | Craig Shesky | |
| Title: | Chief Financial Officer | |