M&A - TMC the metals Co Inc.

Form Type: 8-K

Filing Date: 2025-06-16

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925059701

Filing Summary: On June 16, 2025, TMC the metals company Inc. entered into a Securities Purchase Agreement with Korea Zinc Company, Ltd. Under this agreement, TMC will issue 19,623,376 common shares and a warrant to purchase up to 6,868,181 common shares at a price of $4.34 per share, yielding approximately $85.2 million in gross proceeds. The warrant is immediately exercisable for a period of three years at an initial price of $7.00 per share, subject to certain conditions. The agreement grants Korea Zinc Company participation rights in future offerings to maintain its ownership percentage, which will expire in 2030 or under certain events. This partnership may also lead to the establishment of onshore processing infrastructure in the United States. The transaction is expected to close on June 26, 2025, pending standard conditions.