IPO - TMC the metals Co Inc.

Form Type: 424B5

Filing Date: 2025-05-12

Corporate Action: Ipo

Type: New

Accession Number: 000110465925047371

Filing Summary: TMC the metals company Inc. is initiating an offering of 12,333,333 common shares accompanied by Class C warrants to purchase an additional 12,333,333 common shares. Each common share is priced at $3.00, with each Class C warrant exercisable at $4.50 over a three-year period. The total proceeds from this offering, excluding potential future proceeds from warrant exercises, are estimated at $37 million. The Class C warrants will be issued alongside the common shares but will be sold separately. The company is in the emerging growth phase, focusing on deep-sea mineral exploration and securing licenses for mineral recovery in the Clarion Clipperton Zone. They aim to develop a commercial production strategy under U.S. regulations. Recent applications to NOAA for exploration licenses and a commercial recovery permit signal their commitment to moving into operational phases of their business. The document outlines potential risks associated with the investment in their shares and proceeds are earmarked for advancing their business operations further.

Form Type: 424B5

Filing Date: 2025-05-12

Corporate Action: Ipo

Type: New

Accession Number: 000110465925047372

Filing Summary: TMC the metals company Inc. is offering 12,333,333 common shares along with Class C warrants to purchase an equal number of common shares at an exercise price of $4.50 each. The common shares and warrants are priced at $3.00, totaling estimated proceeds of $37 million. Each warrant is exercisable after issuance and will expire three years later. The company is focused on collecting and processing polymetallic nodules found on the seafloor, which contain critical metals like nickel, copper, cobalt, and manganese. TMC seeks to pursue commercial production under the U.S.-based Deep Seabed Hard Mineral Resources Act, having submitted exploration license and commercial recovery permit applications to NOAA. The offering is distinct from their ongoing exploration contracts with the ISA and is part of their strategy to streamline permitting under DSHMRA. Delivery of securities is expected on May 22, 2025. Significant risks associated with the investment include regulatory uncertainties and operational dependencies on new technologies.