TMC the metals company Inc. appointed Liam Mallon as a director effective September 24, 2026, filling the vacancy created by Brendan May’s resignation, also effective September 24, 2026. Mallon will chair the Sustainability and Innovation Committee and is expected to stand for election at the 2027 Annual General Meeting. He received 25,445 RSUs on September 25, 2026, and a special one-time grant of 77,720 RSUs on September 28, 2026.
The company stated that May’s resignation did not result from disagreement with its operations, policies or practices. Separately, NOAA published TMC USA’s consolidated USA-A exploration-license and commercial-recovery-permit application in the Federal Register. NOAA also published a notice of intent to develop an Environmental Impact Statement for the USA-B exploration-license application.
TMC the metals Co Inc. (symbol: TMC) is the issuer of record for a Form 4 filing submitted to the SEC. Hall Andrew reported acquisition or exercise transactions in this Form 4 filing.
TMC the metals Co Inc. (TMC) reported that director Andrew Hall received an equity-based compensation award in the form of 72,935 Common Shares on September 11, 2026. The award was granted as restricted stock units under the company’s 2021 Equity Incentive Plan at a stated price of $0.00 per share.
Each restricted stock unit represents the right to receive one common share, and, subject to Andrew Hall’s continued service, these RSUs vest on the third anniversary of the grant date. Following this grant, Hall’s directly held position is reported as 466,993 common shares.
TMC the metals Co Inc. (TMC) received Amendment No. 13 to a Schedule 13D from its chief executive officer, Gerard Barron, updating his ownership and related arrangements. Barron reports beneficial ownership of 30,809,638 Common Shares, including shares underlying options exercisable within 60 days of September 11, 2026, representing 6.9% of the outstanding Common Shares based on 441,135,482 shares outstanding as of August 11, 2026.
The filing details that this stake consists of 26,162,760 Common Shares and 4,646,878 Common Shares underlying near-term exercisable options, and excludes additional options, warrants, Special Shares, and restricted stock units that vest on future dates or are subject to performance or price hurdles. It also describes multiple RSU vesting events from 2024–2026 that delivered several million shares to Barron, the expiration of warrants to purchase 89,394 shares at $11.50, a credit facility under which Barron and an affiliated fund may lend up to $44 million to TMC, and Barron’s employment agreement that includes 20,000,000 performance-based RSUs vesting by April 16, 2029 if specified Common Share price thresholds are met.
TMC the metals Co Inc. (TMC) reports that its warrants expiring September 9, 2026 have been removed from listing and/or registration on the Nasdaq Stock Market LLC through a Form 25 filing under the Securities Exchange Act of 1934.
Nasdaq certifies it has complied with its rules to strike this class of warrants from listing, and that the issuer has complied with applicable exchange and SEC requirements for voluntary withdrawal of this class of securities.
TMC the metals company Inc. (TMC) reported that the U.S. National Oceanic and Atmospheric Administration (NOAA) has published in the Federal Register a consolidated application by its subsidiary, The Metals Company USA LLC, for an exploration license and commercial recovery permit for polymetallic nodules in the TMC USA-A area under the Deep Seabed Hard Mineral Resources Act (DSHMRA).
The USA-A application covers approximately 65,000 km2 in the Clarion-Clipperton Zone with an estimated 619 million tonnes of wet nodules and potential exploration upside of an additional 200 million tonnes. NOAA previously determined the application was in full compliance on April 28, 2026, and publication starts the public comment process before further regulatory steps.
TMC USA is also advancing a separate USA-B exploration license application covering about 122,000 km2 with an estimated 1.02 billion tonnes of polymetallic nodules. NOAA has issued a Notice of Intent to prepare an Environmental Impact Statement for USA-B, and both applications remain subject to ongoing environmental review and final NOAA determinations.
TMC the metals company Inc. reports that the U.S. National Oceanic and Atmospheric Administration (NOAA) has published a Notice of Intent to prepare an Environmental Impact Statement (EIS) for the USA-B exploration license application submitted by its subsidiary, TMC USA, under the Deep Seabed Hard Mineral Resources Act. The USA-B area in the Clarion Clipperton Zone covers about 122,000 km2 of seafloor and hosts an estimated 1.02 billion tonnes of polymetallic nodules containing nickel, cobalt, copper, manganese and rare earth elements, based on TMC’s 2025 technical report. NOAA’s action is described as a key step in a transparent regulatory review that will include a draft EIS and draft terms, conditions and restrictions, a public comment period, and a final decision on whether to issue the exploration license.
TMC the metals company Inc. is a development-stage deep seabed minerals company with no operating revenue, reporting a net loss of $60.1 million for the quarter and $80.7 million for the six months ended June 30, 2026, compared with losses of $74.3 million and $94.9 million in the prior-year periods. Operating expenses rose sharply, driven by a jump in exploration and evaluation expenses to $56.1 million in the quarter, largely from mining, technology and process development and the new Allseas commercial nodule collection system agreement.
Cash was $98.7 million at June 30, 2026 (down from $117.6 million at year-end), with operating cash use of $20.7 million in the first half and modest financing inflows from option exercises and the employee share purchase plan. The balance sheet shows a substantial royalty liability of $145.0 million and negative equity of $27.4 million. TMC recorded a $23.1 million gain on dilution of its equity-method investment in The Metals Royalty Company, partially offsetting higher operating costs. On the regulatory front, its U.S. subsidiary’s consolidated application under DSHMRA for a CCZ exploration license and commercial recovery permit has been found in full compliance and advanced to certification and environmental review stages, while ISA contract extensions and related proceedings continue.
TMC the metals company Inc. reported second quarter 2026 results and a broad regulatory and project update. For the quarter ended June 30, 2026, the company recorded a net loss of $60.1 million, or $0.14 per share, improving from a $74.3 million loss a year earlier. Exploration and evaluation expenses rose sharply to $56.1 million from $10.5 million, driven by a $37.2 million settlement of initial and negotiated costs owed to Allseas and higher share-based compensation and prefeasibility study spending. General and administrative expenses increased to $15.6 million from $11.5 million. At June 30, 2026, TMC held $98.7 million in cash, reported no financial debt, and stated it believes this liquidity will cover working capital and capex needs for at least the next twelve months.
Regulatory milestones included NOAA determining TMC USA’s consolidated USA-A deep-seabed mining application is in full compliance and formally certifying the USA-B exploration license application. The USA-A area covers about 65,000 km² with an estimated 619 million tonnes of polymetallic nodules plus potential upside, while USA-B spans about 122,000 km² with an estimated 1.02 billion tonnes. Internationally, the Seabed Disputes Chamber of ITLOS ordered provisional measures protecting the due process rights of TMC subsidiaries NORI and TOML, and the ISA Council approved a five-year extension of NORI’s exploration contract.
On the project side, TMC and Allseas signed a commercial agreement for the first offshore nodule recovery system, targeting commissioning in Q4 2027 with a nameplate capacity of 3.0 million wet tonnes of nodules per year, subject to approvals. TMC USA entered a Master Services Agreement with Mariana Minerals for phased concept and design work at the Port of Brownsville, Texas, and TMC signed an exclusive offshore survey and exploration services agreement with Eco Minerals. TMC highlighted its equity stake of 22.4% in The Metals Royalty Co., which holds a 2.0% gross overriding royalty on the NORI area, alongside an option to repurchase up to 75% of that royalty.
Allseas Group S.A. and affiliated entities report an increased stake in TMC the metals Co Inc. following a share issuance tied to a commercial contract. On July 1, 2026, Allseas Group S.A. acquired 7,305,567 TMC Common Shares at $4.66 per share under a Contract for Development Work and Commercial Production effective March 30, 2026.
Based on 433,221,138 TMC Common Shares outstanding, Allseas Group S.A. and Allseas Investments S.A. may be deemed to beneficially own 66,502,501 shares, or about 15.4% of the company. Argentum Cedit Virtuti NV, Stichting Administratiekantoor Aequa Lance Foundation and Edward Heerema may be deemed to beneficially own 67,502,501 shares, or about 15.6%. The new shares were issued in a private transaction relying on a Section 4(a)(2) exemption and are not registered for public resale.
TMC the metals Co Inc. reported that major shareholder Allseas Group S.A. acquired additional common shares. On July 1, 2026, Allseas acquired 7,305,567 common shares of TMC pursuant to a Contract for Development Work and Commercial Production between a wholly owned Allseas subsidiary and TMC.
The footnotes state that these common shares were issued at $4.66 per share under that commercial arrangement, rather than through a cash open‑market purchase. Following the transaction, one reported line shows 62,419,168 common shares directly owned. The filing notes that related entities and Mr. Edward Heerema may be deemed beneficial owners but each disclaims beneficial ownership except to the extent of their pecuniary interest.