The metals company announces ~us$27 million registered direct offering at $2.00 per share plus class a warrants

New york, aug. 14, 2023 (globe newswire) -- tmc the metals company inc. (nasdaq: tmc) (“tmc” or the “company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that it has entered into a securities purchase agreement with certain investors for the purchase of 13,461,540 common shares of the company (the “shares”), without par value (“common shares”), and accompanying class a warrants (the “class a warrants” and collectively with the shares and class a warrants, the “securities”) to purchase up to 6,730,770 common shares in a registered direct offering. each common share and the accompanying class a warrant to purchase 0.5 common shares are being sold at a price of us$2.00. the class a warrants have an initial exercise price of us$3.00 per share, subject to certain adjustments therein, are exercisable immediately upon issuance and will expire on december 31, 2027.
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