TMC Announces $37 Million Strategic Investment to Advance Deep-Sea Mineral Development
TMC has secured a $37 million strategic investment through a registered direct offering led by Michael Hess (Hess Capital) and Brian Paes-Braga (SAF Group). The offering includes 12.3 million common shares at $3.00 per share, with each share accompanied by a Class C warrant exercisable at $4.50 per share. The warrants have a three-year term with mandatory exercise if shares trade above $7.00 for 20 consecutive days.
The funding comes at a strategic time following President Trump's Executive Order to accelerate seabed mining and TMC's submission of the world's first commercial recovery application for nodules in international waters. The proceeds will fund operations through the potential issuance of a commercial recovery permit, advancing the company's position in deep-sea mineral development.
TMC ha ottenuto un investimento strategico di 37 milioni di dollari tramite un'offerta diretta registrata guidata da Michael Hess (Hess Capital) e Brian Paes-Braga (SAF Group). L'offerta comprende 12,3 milioni di azioni ordinarie a 3,00 dollari per azione, ciascuna accompagnata da un warrant di Classe C esercitabile a 4,50 dollari per azione. I warrant hanno una durata di tre anni con esercizio obbligatorio se le azioni superano i 7,00 dollari per 20 giorni consecutivi.
Il finanziamento arriva in un momento strategico, a seguito dell'Ordine Esecutivo del Presidente Trump volto ad accelerare l'estrazione mineraria dai fondali marini e della presentazione da parte di TMC della prima domanda commerciale al mondo per il recupero di noduli in acque internazionali. I proventi finanzieranno le operazioni fino al possibile rilascio di un permesso commerciale di recupero, rafforzando la posizione dell'azienda nello sviluppo delle risorse minerarie in profondità marine.
TMC ha asegurado una inversión estratégica de 37 millones de dólares a través de una oferta directa registrada liderada por Michael Hess (Hess Capital) y Brian Paes-Braga (SAF Group). La oferta incluye 12,3 millones de acciones comunes a 3,00 dólares por acción, cada acción acompañada de un warrant Clase C ejercitable a 4,50 dólares por acción. Los warrants tienen un plazo de tres años con ejercicio obligatorio si las acciones cotizan por encima de 7,00 dólares durante 20 días consecutivos.
La financiación llega en un momento estratégico tras la Orden Ejecutiva del Presidente Trump para acelerar la minería en el lecho marino y la presentación por parte de TMC de la primera solicitud comercial del mundo para la recuperación de nódulos en aguas internacionales. Los fondos financiarán las operaciones hasta la posible emisión de un permiso comercial de recuperación, fortaleciendo la posición de la empresa en el desarrollo de minerales en aguas profundas.
TMC는 Michael Hess(Hess Capital)와 Brian Paes-Braga(SAF Group)가 주도하는 등록 직접 공모를 통해 3,700만 달러의 전략적 투자를 확보했습니다. 이번 공모에는 주당 3.00달러에 1,230만 주의 보통주가 포함되며, 각 주식에는 주당 4.50달러에 행사 가능한 클래스 C 워런트가 부속됩니다. 워런트는 3년 만기이며, 주가가 20일 연속 7.00달러를 초과할 경우 의무적으로 행사해야 합니다.
이번 자금 조달은 트럼프 대통령의 해저 광산 개발 가속화를 위한 행정명령과 TMC가 국제 해역에서 최초로 상업적 회수 신청서를 제출한 시점에 이루어져 전략적으로 중요한 의미를 가집니다. 자금은 상업적 회수 허가 발급 가능성에 대비한 운영 자금으로 사용되며, 심해 광물 개발에서 회사의 입지를 강화할 것입니다.
TMC a obtenu un investissement stratégique de 37 millions de dollars via une offre directe enregistrée menée par Michael Hess (Hess Capital) et Brian Paes-Braga (SAF Group). L'offre comprend 12,3 millions d'actions ordinaires à 3,00 dollars par action, chaque action étant accompagnée d'un warrant de Classe C exerçable à 4,50 dollars par action. Les warrants ont une durée de trois ans avec un exercice obligatoire si les actions se négocient au-dessus de 7,00 dollars pendant 20 jours consécutifs.
Ce financement intervient à un moment stratégique, suite à l'Ordre Exécutif du Président Trump visant à accélérer l'exploitation minière des fonds marins, ainsi qu'à la soumission par TMC de la première demande commerciale mondiale pour la récupération de nodules en eaux internationales. Les fonds permettront de financer les opérations jusqu'à l'éventuelle délivrance d'un permis commercial de récupération, renforçant ainsi la position de l'entreprise dans le développement des minéraux en eaux profondes.
TMC hat eine strategische Investition in Höhe von 37 Millionen US-Dollar durch ein registriertes Direktangebot erhalten, das von Michael Hess (Hess Capital) und Brian Paes-Braga (SAF Group) geleitet wird. Das Angebot umfasst 12,3 Millionen Stammaktien zu je 3,00 US-Dollar, wobei jede Aktie mit einem Class-C-Warrant versehen ist, der zu 4,50 US-Dollar pro Aktie ausgeübt werden kann. Die Warrants haben eine Laufzeit von drei Jahren mit einer verpflichtenden Ausübung, wenn die Aktien für 20 aufeinanderfolgende Tage über 7,00 US-Dollar gehandelt werden.
Die Finanzierung erfolgt zu einem strategisch günstigen Zeitpunkt nach der Exekutivanordnung von Präsident Trump zur Beschleunigung des Tiefseebergbau und der Einreichung des weltweit ersten Antrags auf kommerzielle Gewinnung von Knollen in internationalen Gewässern durch TMC. Die Erlöse werden die Geschäftstätigkeit bis zur möglichen Erteilung einer kommerziellen Gewinnungserlaubnis finanzieren und die Position des Unternehmens in der Tiefsee-Mineralentwicklung stärken.
- Secured $37 million in strategic investment from experienced investors in resource development
- Warrants include upside potential with $4.50 exercise price and mandatory exercise at $7.00
- Funding sufficient to sustain operations through potential commercial recovery permit issuance
- Favorable regulatory environment with new Executive Order accelerating seabed mining
- First-mover advantage with world's first commercial recovery application for nodules
- Dilutive offering at $3.00 per share
- Additional potential dilution from warrant exercises
- Funding dependent on regulatory approval for commercial recovery permit
Insights
TMC secures $37M investment led by strategic investors at premium to fund operations through potential commercial permit approval.
This $37 million strategic investment represents a significant capital infusion for TMC, structured as a registered direct offering at $3.00 per share with attached warrants exercisable at $4.50. The financing appears well-timed, following two recent catalysts: President Trump's Executive Order to accelerate seabed mining and TMC's submission of the first commercial recovery application for deep-sea nodules.
The financing terms warrant attention. The $3.00 per share price point with $4.50 warrants that become mandatory if shares trade above $7.00 for 20 consecutive days creates an unusual tiered structure. This indicates investor confidence in potential upside while providing protection through the initial discount. Most notably, the company explicitly states these proceeds will fund operations through the potential issuance of a commercial recovery permit – effectively defining a clear operational runway tied to this key regulatory milestone.
The strategic aspect of this investment shouldn't be overlooked. Michael Hess brings significant exploration and production experience, while Brian Paes-Braga's SAF Group participation adds institutional credibility. Their involvement signals confidence in both the commercial viability of deep-sea minerals and regulatory pathway advancement. The company's accelerated timeline on submitting their commercial recovery application (two months ahead of schedule) coupled with the favorable Executive Order creates momentum that likely helped secure this financing on favorable terms.
This investment addresses TMC's immediate funding needs while positioning the company to potentially capitalize on the developing regulatory environment for seabed mining, particularly with respect to critical minerals and national security interests.
- The financing is led by Michael Hess, Chief Investment Officer of Hess Capital, and Brian Paes-Braga, Managing Partner at SAF Group and Head of SAF Growth
- It comprises a Registered Direct Offering at
$3.00 per share and warrants exercisable at$4.50 per share, with mandatory exercise if shares trade above$7.00 per share for 20 consecutive days - Proceeds are expected to be sufficient to fund operations through the potential issuance of a commercial recovery permit
- The investor group brings decades of experience in large-scale resource development and deep global relationships across industry, government and capital markets
NEW YORK, May 12, 2025 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), a leading explorer of the world’s largest undeveloped resource of critical metals essential to energy, defense, manufacturing, and infrastructure, today announced a
Pursuant to the agreement, TMC will issue 12.3 million common shares at
TMC’s Chairman and CEO, Gerard Barron, commented: “In recent weeks, both our company and the industry have made major strides. On April 24th, President Trump issued an Executive Order to accelerate seabed mining through expedited permitting, evaluation of offtake rights, and potential federal investment. Just days later, TMC submitted the world’s first commercial recovery application for nodules in international waters—more than two months ahead of schedule. We’re thrilled to welcome Michael Hess as a strategic partner. He brings over 15 years of exploration and production experience, as both an investor and operator, along with deep relationships across the U.S.”
Michael Hess commented: “Brian Paes-Braga and I have been evaluating opportunities in critical minerals for some time, specifically looking for opportunities that will advance America’s mineral independence. We believe TMC is a unique company with the potential to play a key role in that effort. It is exciting to support the emergence of an entirely new resource category of ocean minerals and to help accelerate its development in service of the national interest.”
Shelf registration statements on Form S-3, including base prospectuses, relating to the securities being offered were filed on September 16, 2022 and November 30, 2023, respectively, and declared effective by the U.S. Securities and Exchange Commission (SEC) on October 14, 2022 and December 8, 2023, respectively. The offering is being made only by means of written prospectuses and a prospectus supplement that form a part of the registration statements. A prospectus supplement dated May 12, 2025 describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About TMC the metals company
TMC the metals company is an explorer of lower-impact critical metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for energy, defense, manufacturing and infrastructure with net positive impacts compared to conventional production routes and (2) trace, recover and recycle the metals we supply to help create a metal commons that can be used in perpetuity. The Company has conducted more than a decade of research into the environmental and social impacts of offshore nodule collection and onshore processing.
Contact:
Investors: investors@metals.co
Media: media@metals.co
Forward-Looking Statements
This press release contains “forward-looking” statements and information within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believes,” “could,” “expects,” “may,” “plans,” “possible,” “potential,” “will” and variations of these words or similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements with respect to whether the Company will offer and issue the securities and the terms of the offering, the anticipated gross proceeds from the offering and the anticipated use of proceeds from the offering. The Company may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including, among other things: risks relating to the need to satisfy regulatory and legal requirements with respect to the offering, risks relating to the Company’s ability to satisfy certain conditions to closing for the offering included in the securities purchase agreement on a timely basis or at all, as well as related to market and other conditions and the other risk factors that are described in the section entitled “Risk Factors” in the prospectus supplement and the Company’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission (SEC), any of such risks could cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.
FAQ
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