Company: TMCWW
Filing Date: 2025-05-12
Form Type: 8-K
Source: 0001104659-25-047373
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Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 8-K
Item: Item 1.01
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Item 1.01.      Entry into a Material Definitive Agreement.  

On May 12, 2025, TMC
the metals company Inc. (the “ Company”) entered into a securities purchase agreement (the “ Purchase
Agreement”) with certain new and existing investors (the “ Purchasers”) pursuant to which the Company agreed to sell and issue, in a
registered direct offering (the “ Registered Offering”), an aggregate of 12,333,333 common shares (the
“ Shares”) of the Company, without par value (the “ Common Shares”), and accompanying Class C warrants
(the “ Class C Warrants” and collectively with the Shares and the Common Shares issuable upon exercise of the Class C Warrants, the “ Securities”) to purchase an aggregate
of 12,333,333 Common Shares to such new and existing investors. The aggregate gross proceeds to the Company from the Registered Offering are expected to be
approximately $37,000,000, before deducting offering expenses payable by the Company, not including the exercise of the
Class C Warrants. Each Common Share and the accompanying Class C Warrant to purchase a Common Share are being sold at a
price of $3.00.

The Securities are being offered
by the Company pursuant to the Company’s registration statement on Form S-3 (Reg. No. 333-275822), previously filed with
the U. S. Securities and Exchange Commission (the “ SEC”) on November 30, 2023 and declared effective by the SEC on December 8,
2023, the Company’s registration statement on Form S-3 (Reg. No. 333-267479), previously filed with the SEC
on September 16, 2022, as amended on October 6, 2022 and declared effective by the SEC on October 14, 2022, the base prospectuses
contained within each such registration statement, and a prospectus supplement dated May 12, 2025.

The closing of the Registered
Offering is expected to occur on or about May 22, 2025, subject to the satisfaction of customary closing conditions. The Purchase Agreement may be terminated by the Company as to any Purchaser’s obligations thereunder if the closing with respect to such
Purchaser has not been consummated on or before June 30, 2025.

The
Class C Warrants have an initial exercise price of $4.50 per share, are exercisable immediately