AG˹ٷ

STOCK TITAN

[8-K] TMC the metals company Inc. Reports Material Event

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

TMC the metals company Inc. (TMC) filed an 8-K disclosing a revised Sponsorship Agreement between its wholly owned subsidiary Tonga Offshore Mining Ltd. (TOML) and the Kingdom of Tonga, replacing the 2021 agreement. The pact re-confirms Tonga’s backing for TOML’s exploration rights in the Clarion-Clipperton Zone and establishes updated economic terms.

Key points:

  • TOML will pay Tonga a seabed-mineral recovery fee tied to nodule tonnage recovered until the agreement terminates or is breached.
  • TMC executed a Deed of Guarantee & Indemnity that backstops TOML’s obligations under Tongan law, creating a direct corporate liability.
  • TMC issued Tonga a warrant for 1,000,000 common shares at an initial exercise price of $5.87; the warrant vests on satisfaction of specified U.S. regulatory and commercialization milestones and expires five years from issuance.
  • The obligations create a direct financial / off-balance sheet commitment reportable under Item 2.03.
  • Strategy Event scheduled 4 Aug 2025 (9:00 a.m. EDT) to discuss two technical reports (S-K 1300 NORI Area D PFS; Initial Assessment of TOML & NORI properties) and other updates; an investor slide deck is furnished as Exhibit 99.1.

No financial results were reported, but the agreement clarifies future cash outflows and potential equity dilution while strengthening governmental support critical for eventual commercialization.

TMC the metals company Inc. (TMC) ha depositato un modulo 8-K divulgando un Accordo di Sponsorizzazione rivisto tra la sua controllata al 100% Tonga Offshore Mining Ltd. (TOML) e il Regno di Tonga, che sostituisce l'accordo del 2021. Il patto conferma il sostegno di Tonga ai diritti di esplorazione di TOML nella Zona Clarion-Clipperton e stabilisce termini economici aggiornati.

Punti chiave:

  • TOML pagherà a Tonga una commissione per il recupero di minerali dal fondale marino legata alla quantità di noduli estratti, fino alla scadenza o violazione dell'accordo.
  • TMC ha sottoscritto un Atto di Garanzia e Indennizzo che supporta gli obblighi di TOML secondo la legge tongana, creando una responsabilità aziendale diretta.
  • TMC ha emesso a Tonga un warrant per 1.000.000 azioni ordinarie con un prezzo iniziale di esercizio di $5,87; il warrant si attiva al raggiungimento di specifici traguardi regolatori statunitensi e di commercializzazione e scade cinque anni dopo l’emissione.
  • Gli obblighi generano un impegno finanziario diretto / fuori bilancio da riportare ai sensi dell’Articolo 2.03.
  • Evento Strategico previsto per il 4 agosto 2025 (9:00 a.m. EDT) per discutere due report tecnici (S-K 1300 NORI Area D PFS; Valutazione Iniziale delle proprietà TOML & NORI) e altri aggiornamenti; una presentazione per investitori è disponibile come Allegato 99.1.

Non sono stati riportati risultati finanziari, ma l’accordo chiarisce i futuri esborsi di cassa e la potenziale diluizione azionaria, rafforzando al contempo il supporto governativo fondamentale per la commercializzazione finale.

TMC the metals company Inc. (TMC) presentó un formulario 8-K revelando un Acuerdo de Patrocinio revisado entre su subsidiaria de propiedad total Tonga Offshore Mining Ltd. (TOML) y el Reino de Tonga, que reemplaza el acuerdo de 2021. El pacto reafirma el respaldo de Tonga a los derechos de exploración de TOML en la Zona Clarion-Clipperton y establece términos económicos actualizados.

Puntos clave:

  • TOML pagará a Tonga una tarifa por recuperación de minerales del lecho marino vinculada a la tonelada de nódulos recuperados hasta que el acuerdo termine o se incumpla.
  • TMC firmó una Escritura de Garantía e Indemnización que respalda las obligaciones de TOML bajo la ley tongana, creando una responsabilidad corporativa directa.
  • TMC emitió a Tonga un warrant por 1,000,000 acciones comunes con un precio inicial de ejercicio de $5.87; el warrant se activa al cumplirse hitos regulatorios en EE.UU. y de comercialización, y expira cinco años después de su emisión.
  • Las obligaciones generan un compromiso financiero directo / fuera de balance que debe reportarse según el Ítem 2.03.
  • Evento Estratégico programado para el 4 de agosto de 2025 (9:00 a.m. EDT) para discutir dos informes técnicos (S-K 1300 NORI Area D PFS; Evaluación Inicial de las propiedades TOML y NORI) y otras actualizaciones; se proporciona una presentación para inversionistas como Anexo 99.1.

No se reportaron resultados financieros, pero el acuerdo aclara los futuros desembolsos de efectivo y la posible dilución accionaria, a la vez que fortalece el apoyo gubernamental crítico para la eventual comercialización.

TMC the metals company Inc. (TMC)� 완전 자회사인 Tonga Offshore Mining Ltd. (TOML)와 통가 왕국 간의 수정� 후원 계약� 공개하는 8-K� 제출했으�, 이는 2021� 계약� 대체합니다. � 협약은 클라리언-클리퍼턴 존에� TOML� 탐사 권리� 통가가 다시 � � 지지함을 확인하고 업데이트� 경제 조건� 설정합니�.

주요 내용:

  • TOML은 계약 종료 또는 위반 시까지 회수� 결절 톤수� 연동� 해저 광물 회수 수수�� 통가� 지급합니다.
  • TMC� 통가 법률� 따른 TOML� 의무� 보증하는 보증 � 면책 증서� 체결하여 직접적인 기업 책임� 만듭니다.
  • TMC� 통가� 1,000,000 보통� 워런�� 발행했으� 초기 행사 가격은 $5.87입니�; 워런트는 미국 규제 � 상업� 특정 이정� 달성 � 권리가 부여되� 발행일로부� 5� � 만료됩니�.
  • � 의무� 직접 재무 / 재무제표 � 약정으로� 항목 2.03� 보고됩니�.
  • 전략 이벤�가 2025� 8� 4� 오전 9�(EDT) 예정되어 있으�, � 건의 기술 보고�(S-K 1300 NORI Area D PFS; TOML � NORI 자산 초기 평가) � 기타 업데이트� 논의� 예정입니�; 투자자용 슬라이드 데크가 부속서 99.1� 제공됩니�.

재무 실적은 보고되지 않았으나, � 계약은 향후 현금 유출� 잠재� 주식 희석� 명확� 하면� 최종 상업화에 중요� 정부 지원을 강화합니�.

TMC the metals company Inc. (TMC) a déposé un formulaire 8-K divulguant un Accord de parrainage révisé entre sa filiale en propriété exclusive Tonga Offshore Mining Ltd. (TOML) et le Royaume de Tonga, remplaçant l'accord de 2021. Le pacte confirme le soutien de Tonga aux droits d'exploration de TOML dans la zone Clarion-Clipperton et établit des conditions économiques mises à jour.

Points clés :

  • TOML versera à Tonga des frais de récupération des minéraux du fond marin liés au tonnage de nodules récupérés jusqu'à la résiliation ou la violation de l'accord.
  • TMC a signé un Acte de Garantie et d'Indemnisation qui soutient les obligations de TOML en vertu de la loi tongienne, créant une responsabilité directe de l'entreprise.
  • TMC a émis à Tonga un bon de souscription pour 1 000 000 actions ordinaires à un prix d'exercice initial de 5,87 $ ; le bon se libère à la réalisation de jalons réglementaires américains et de commercialisation spécifiques et expire cinq ans après son émission.
  • Les obligations créent un engagement financier direct / hors bilan à déclarer selon l'Article 2.03.
  • Événement stratégique prévu le 4 août 2025 (9h00 EDT) pour discuter de deux rapports techniques (S-K 1300 NORI Area D PFS ; Évaluation initiale des propriétés TOML & NORI) et d'autres mises à jour ; une présentation pour investisseurs est fournie en Annexe 99.1.

Aucun résultat financier n'a été rapporté, mais l'accord clarifie les sorties de trésorerie futures et la dilution potentielle des actions tout en renforçant le soutien gouvernemental crucial pour la commercialisation finale.

TMC the metals company Inc. (TMC) reichte ein 8-K ein, in dem eine überarbeitete Sponsoring-Vereinbarung zwischen der hundertprozentigen Tochtergesellschaft Tonga Offshore Mining Ltd. (TOML) und dem Königreich Tonga offengelegt wird, die die Vereinbarung von 2021 ersetzt. Das Abkommen bestätigt Tongas Unterstützung für TOMLs Explorationsrechte in der Clarion-Clipperton-Zone und legt aktualisierte wirtschaftliche Bedingungen fest.

Wichtige Punkte:

  • TOML zahlt Tonga eine Gebühr für die Gewinnung von Bodenschätzen, die an die Menge der gewonnenen Knollen gebunden ist, bis das Abkommen endet oder verletzt wird.
  • TMC schloss eine Garantie- und Entschädigungsurkunde ab, die TOMLs Verpflichtungen nach tonganischem Recht absichert und eine direkte Unternehmenshaftung schafft.
  • TMC stellte Tonga einen Warrant für 1.000.000 Stammaktien zu einem anfänglichen Ausübungspreis von $5,87 aus; der Warrant wird bei Erreichen bestimmter US-Regulierungs- und Kommerzialisierungsmeilensteine wirksam und verfällt fünf Jahre nach Ausgabe.
  • Die Verpflichtungen stellen eine direkte finanzielle / außerbilanziellen Verpflichtung dar, die unter Punkt 2.03 zu melden ist.
  • Strategie-Event geplant für den 4. August 2025 (9:00 Uhr EDT), um zwei technische Berichte (S-K 1300 NORI Area D PFS; Erste Bewertung der TOML- & NORI-Eigenschaften) und weitere Updates zu besprechen; eine Investorenpräsentation ist als Anhang 99.1 beigefügt.

Es wurden keine Finanzergebnisse berichtet, aber das Abkommen klärt zukünftige Cashflows und mögliche Eigenkapitalverwässerung und stärkt gleichzeitig die für die endgültige Kommerzialisierung wichtige staatliche Unterstützung.

Positive
  • Government support secured: Revised Sponsorship Agreement re-confirms Tonga’s backing, critical for ISA contract continuity.
  • Regulatory clarity: Agreement and warrant vesting terms outline concrete milestones, reducing uncertainty around project timeline.
Negative
  • New cash outflows: Seabed mineral recovery payments could pressure future operating margins.
  • Contingent liabilities: Corporate guarantee and indemnity expose TMC to additional legal and financial obligations.
  • Potential dilution: 1 M share warrant may dilute existing holders upon exercise.

Insights

TL;DR: Tonga deal secures exploration support but adds fees, guarantee and potential 1 M-share dilution.

The renewed Sponsorship Agreement is strategically positive because Tonga’s explicit support is essential for ISA approvals and future production licensing. However, investors must weigh:

  • Cash obligations: Recovery payments will directly link operating costs to production volumes, affecting project breakevens.
  • Corporate guarantee: TMC now carries contingent liabilities under Tongan law, increasing credit risk.
  • Dilution risk: 1 M warrants (~0.4 % of current shares) at $5.87 could dilute equity if conditions are met, though exercise price exceeds recent trading range, limiting near-term impact.
  • Regulatory milestones: Warrant vesting hinges on U.S. approvals—highlighting geopolitical complexity in seabed mining.
Overall, the filing slightly improves project visibility but does not immediately change financial outlook. I rate the impact neutral-to-positive.

TL;DR: Agreement reduces sovereign risk but adds contingent liabilities and ongoing payment exposure.

Formalizing Tonga’s sponsorship mitigates a key political risk—loss of host-nation support—thereby improving the probability of eventual production. Yet the Deed of Guarantee shifts project-level obligations onto the parent, exposing TMC to enforcement under Tongan jurisdiction. Recovery-linked payments could pressure margins if commodity prices weaken or recovery volumes disappoint. The five-year warrant embeds limited dilution but signals Tonga’s expectation of equity upside. From a risk perspective, the event is balanced: sovereign alignment is beneficial, but financial commitments tighten liquidity flexibility.

TMC the metals company Inc. (TMC) ha depositato un modulo 8-K divulgando un Accordo di Sponsorizzazione rivisto tra la sua controllata al 100% Tonga Offshore Mining Ltd. (TOML) e il Regno di Tonga, che sostituisce l'accordo del 2021. Il patto conferma il sostegno di Tonga ai diritti di esplorazione di TOML nella Zona Clarion-Clipperton e stabilisce termini economici aggiornati.

Punti chiave:

  • TOML pagherà a Tonga una commissione per il recupero di minerali dal fondale marino legata alla quantità di noduli estratti, fino alla scadenza o violazione dell'accordo.
  • TMC ha sottoscritto un Atto di Garanzia e Indennizzo che supporta gli obblighi di TOML secondo la legge tongana, creando una responsabilità aziendale diretta.
  • TMC ha emesso a Tonga un warrant per 1.000.000 azioni ordinarie con un prezzo iniziale di esercizio di $5,87; il warrant si attiva al raggiungimento di specifici traguardi regolatori statunitensi e di commercializzazione e scade cinque anni dopo l’emissione.
  • Gli obblighi generano un impegno finanziario diretto / fuori bilancio da riportare ai sensi dell’Articolo 2.03.
  • Evento Strategico previsto per il 4 agosto 2025 (9:00 a.m. EDT) per discutere due report tecnici (S-K 1300 NORI Area D PFS; Valutazione Iniziale delle proprietà TOML & NORI) e altri aggiornamenti; una presentazione per investitori è disponibile come Allegato 99.1.

Non sono stati riportati risultati finanziari, ma l’accordo chiarisce i futuri esborsi di cassa e la potenziale diluizione azionaria, rafforzando al contempo il supporto governativo fondamentale per la commercializzazione finale.

TMC the metals company Inc. (TMC) presentó un formulario 8-K revelando un Acuerdo de Patrocinio revisado entre su subsidiaria de propiedad total Tonga Offshore Mining Ltd. (TOML) y el Reino de Tonga, que reemplaza el acuerdo de 2021. El pacto reafirma el respaldo de Tonga a los derechos de exploración de TOML en la Zona Clarion-Clipperton y establece términos económicos actualizados.

Puntos clave:

  • TOML pagará a Tonga una tarifa por recuperación de minerales del lecho marino vinculada a la tonelada de nódulos recuperados hasta que el acuerdo termine o se incumpla.
  • TMC firmó una Escritura de Garantía e Indemnización que respalda las obligaciones de TOML bajo la ley tongana, creando una responsabilidad corporativa directa.
  • TMC emitió a Tonga un warrant por 1,000,000 acciones comunes con un precio inicial de ejercicio de $5.87; el warrant se activa al cumplirse hitos regulatorios en EE.UU. y de comercialización, y expira cinco años después de su emisión.
  • Las obligaciones generan un compromiso financiero directo / fuera de balance que debe reportarse según el Ítem 2.03.
  • Evento Estratégico programado para el 4 de agosto de 2025 (9:00 a.m. EDT) para discutir dos informes técnicos (S-K 1300 NORI Area D PFS; Evaluación Inicial de las propiedades TOML y NORI) y otras actualizaciones; se proporciona una presentación para inversionistas como Anexo 99.1.

No se reportaron resultados financieros, pero el acuerdo aclara los futuros desembolsos de efectivo y la posible dilución accionaria, a la vez que fortalece el apoyo gubernamental crítico para la eventual comercialización.

TMC the metals company Inc. (TMC)� 완전 자회사인 Tonga Offshore Mining Ltd. (TOML)와 통가 왕국 간의 수정� 후원 계약� 공개하는 8-K� 제출했으�, 이는 2021� 계약� 대체합니다. � 협약은 클라리언-클리퍼턴 존에� TOML� 탐사 권리� 통가가 다시 � � 지지함을 확인하고 업데이트� 경제 조건� 설정합니�.

주요 내용:

  • TOML은 계약 종료 또는 위반 시까지 회수� 결절 톤수� 연동� 해저 광물 회수 수수�� 통가� 지급합니다.
  • TMC� 통가 법률� 따른 TOML� 의무� 보증하는 보증 � 면책 증서� 체결하여 직접적인 기업 책임� 만듭니다.
  • TMC� 통가� 1,000,000 보통� 워런�� 발행했으� 초기 행사 가격은 $5.87입니�; 워런트는 미국 규제 � 상업� 특정 이정� 달성 � 권리가 부여되� 발행일로부� 5� � 만료됩니�.
  • � 의무� 직접 재무 / 재무제표 � 약정으로� 항목 2.03� 보고됩니�.
  • 전략 이벤�가 2025� 8� 4� 오전 9�(EDT) 예정되어 있으�, � 건의 기술 보고�(S-K 1300 NORI Area D PFS; TOML � NORI 자산 초기 평가) � 기타 업데이트� 논의� 예정입니�; 투자자용 슬라이드 데크가 부속서 99.1� 제공됩니�.

재무 실적은 보고되지 않았으나, � 계약은 향후 현금 유출� 잠재� 주식 희석� 명확� 하면� 최종 상업화에 중요� 정부 지원을 강화합니�.

TMC the metals company Inc. (TMC) a déposé un formulaire 8-K divulguant un Accord de parrainage révisé entre sa filiale en propriété exclusive Tonga Offshore Mining Ltd. (TOML) et le Royaume de Tonga, remplaçant l'accord de 2021. Le pacte confirme le soutien de Tonga aux droits d'exploration de TOML dans la zone Clarion-Clipperton et établit des conditions économiques mises à jour.

Points clés :

  • TOML versera à Tonga des frais de récupération des minéraux du fond marin liés au tonnage de nodules récupérés jusqu'à la résiliation ou la violation de l'accord.
  • TMC a signé un Acte de Garantie et d'Indemnisation qui soutient les obligations de TOML en vertu de la loi tongienne, créant une responsabilité directe de l'entreprise.
  • TMC a émis à Tonga un bon de souscription pour 1 000 000 actions ordinaires à un prix d'exercice initial de 5,87 $ ; le bon se libère à la réalisation de jalons réglementaires américains et de commercialisation spécifiques et expire cinq ans après son émission.
  • Les obligations créent un engagement financier direct / hors bilan à déclarer selon l'Article 2.03.
  • Événement stratégique prévu le 4 août 2025 (9h00 EDT) pour discuter de deux rapports techniques (S-K 1300 NORI Area D PFS ; Évaluation initiale des propriétés TOML & NORI) et d'autres mises à jour ; une présentation pour investisseurs est fournie en Annexe 99.1.

Aucun résultat financier n'a été rapporté, mais l'accord clarifie les sorties de trésorerie futures et la dilution potentielle des actions tout en renforçant le soutien gouvernemental crucial pour la commercialisation finale.

TMC the metals company Inc. (TMC) reichte ein 8-K ein, in dem eine überarbeitete Sponsoring-Vereinbarung zwischen der hundertprozentigen Tochtergesellschaft Tonga Offshore Mining Ltd. (TOML) und dem Königreich Tonga offengelegt wird, die die Vereinbarung von 2021 ersetzt. Das Abkommen bestätigt Tongas Unterstützung für TOMLs Explorationsrechte in der Clarion-Clipperton-Zone und legt aktualisierte wirtschaftliche Bedingungen fest.

Wichtige Punkte:

  • TOML zahlt Tonga eine Gebühr für die Gewinnung von Bodenschätzen, die an die Menge der gewonnenen Knollen gebunden ist, bis das Abkommen endet oder verletzt wird.
  • TMC schloss eine Garantie- und Entschädigungsurkunde ab, die TOMLs Verpflichtungen nach tonganischem Recht absichert und eine direkte Unternehmenshaftung schafft.
  • TMC stellte Tonga einen Warrant für 1.000.000 Stammaktien zu einem anfänglichen Ausübungspreis von $5,87 aus; der Warrant wird bei Erreichen bestimmter US-Regulierungs- und Kommerzialisierungsmeilensteine wirksam und verfällt fünf Jahre nach Ausgabe.
  • Die Verpflichtungen stellen eine direkte finanzielle / außerbilanziellen Verpflichtung dar, die unter Punkt 2.03 zu melden ist.
  • Strategie-Event geplant für den 4. August 2025 (9:00 Uhr EDT), um zwei technische Berichte (S-K 1300 NORI Area D PFS; Erste Bewertung der TOML- & NORI-Eigenschaften) und weitere Updates zu besprechen; eine Investorenpräsentation ist als Anhang 99.1 beigefügt.

Es wurden keine Finanzergebnisse berichtet, aber das Abkommen klärt zukünftige Cashflows und mögliche Eigenkapitalverwässerung und stärkt gleichzeitig die für die endgültige Kommerzialisierung wichtige staatliche Unterstützung.

false 0001798562 TMC the metals Co Inc. 00-0000000 0001798562 2025-08-04 2025-08-04 0001798562 TMC:TMCCommonShareswithoutparvalueMember 2025-08-04 2025-08-04 0001798562 TMC:RedeemablewarrantseachwholewarrantTMCCommonShareeachatanexercisepriceofdollar1150pershareMember 2025-08-04 2025-08-04 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT 

Pursuant to Section 13 OR 15(d) of the 

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 4, 2025

 

 

TMC THE METALS COMPANY INC.

(Exact name of registrant as specified in its charter)

 

 

British Columbia, Canada 001-39281 Not Applicable
(State or other jurisdiction of
incorporation)
(Commission File Number) (IRS Employer
Identification No.)

 

1111 West Hastings Street, 15th Floor
Vancouver, British Columbia

(Address of principal executive
offices)
  V6E 2J3
(Zip Code)

 

Registrant’s telephone number, including area code: (888) 458-3420

 

Not applicable
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)  

Name of each exchange on
which registered

TMC Common Shares without par value   TMC   The Nasdaq Stock Market LLC
Redeemable warrants, each whole warrant exercisable for one TMC Common Share, each at an exercise price of $11.50 per share   TMCWW   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 1.01. Entry into Material Definitive Agreement.

 

On August 4, 2025, Tonga Offshore Mining Limited (“TOML”), a wholly owned subsidiary of TMC the metals company Inc. (the “Company”), entered into a revised sponsorship agreement (the “Sponsorship Agreement”) with the Kingdom of Tonga, acting through the Tonga Seabed Minerals Authority (“Tonga”), which replaces and supersedes the prior sponsorship agreement dated September 23, 2021. The Sponsorship Agreement formalizes Tonga’s continued support for TOML’s exploration activities under its exploration contract with the International Seabed Authority (“ISA”) within the TOML contract area in the Clarion-Clipperton Zone, and sets forth revised terms governing the relationship between the parties, including certain benefit entitlements to Tonga in connection with potential future commercial production by TOML or other Company subsidiaries.

 

Pursuant to the Sponsorship Agreement, TOML will continue to be obligated to pay Tonga a seabed mineral recovery payment based on the volume of polymetallic nodules recovered from the ISA contract area, subject to revised commercial criteria, and continuing until termination of the Sponsorship Agreement in accordance with its terms, including upon certain uncured breaches by the other party.

 

In connection with the Sponsorship Agreement, the Company executed a Deed of Guarantee and Indemnity (the “Deed”) in favor of Tonga, under which the Company guarantees certain financial obligations of TOML under Tongan law and the Sponsorship Agreement, and provides limited indemnification.

 

As further described in the Sponsorship Agreement and the Deed, on August 4, 2025, the Company issued to Tonga a warrant to purchase 1,000,000 common shares of the Company (the “Warrant”). The Warrant has an initial exercise price of $5.87 per share, becomes exercisable upon the satisfaction of certain conditions related to U.S. regulatory approvals and the Company’s commercial recovery efforts, as set forth in the Warrant, and expires five years from the date of issuance.

 

The foregoing descriptions of the Sponsorship Agreement, the Deed, and the Warrant do not purport to be complete and are qualified in their entirety by reference to the full text of each, copies of which are filed as Exhibits 10.1, 10.2, and 4.1, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

 

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

 

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

 

Item 7.01. Regulation FD Disclosure.

 

Strategy Event

 

The Company will host a strategy event (the “Strategy Event”) beginning at 9:00 a.m. EDT on August 4, 2025, to discuss the release of a pre-feasibility study in a report titled S-K 1300 NORI Area D Technical Report, dated August 4, 2025, the release of an initial assessment in a report titled Technical Report Summary—Initial Assessment of TOML and NORI Properties, Clarion-Clipperton Zone, dated August 4, 2025, the Sponsorship Agreement, and other Company updates. A slideshow presentation (the “Investor Presentation”) will accompany the Strategy Event. A copy of the Investor Presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information contained in this Item 7.01, including and the Investor Presentation, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.

 

Cautionary Note Regarding Forward-Looking Statements.

 

Except for historical information contained in this Current Report on Form 8-K (including Exhibit 99.1), this report contains forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Please refer to the cautionary statements included in the Investor Presentation, furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

 

 

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No. Description
4.1 Common Share Purchase Warrant, dated August 4, 2025, issued to The Kingdom of Tonga
10.1† Sponsorship Agreement, dated August 4, 2025, among The Government of The Kingdom of Tonga and Tonga Offshore Mining Limited
10.2† Deed of Guarantee and Indemnity, dated August 4, 2025, by TMC the metals company Inc. in favor of The Kingdom of Tonga
99.1* Investor Presentation
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

† Certain confidential portions of this Exhibit were omitted by means of marking such portions with brackets (“[***]”) because the identified confidential portions (i) are not material and (ii) is the type of information that the Company treats as private or confidential.

 

* The foregoing exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the Securities and Exchange Commission pursuant to Regulation FD.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  TMC THE METALS COMPANY INC.
     
Date: August 4, 2025 By: /s/ Craig Shesky
  Name: Craig Shesky
  Title: Chief Financial Officer

 

 

 

FAQ

Why did TMC (NASDAQ:TMC) sign a new Sponsorship Agreement with Tonga?

To formalize continued governmental support for TOML’s exploration rights in the Clarion-Clipperton Zone under updated economic terms.

How many shares could Tonga receive through the new warrant?

Tonga received a warrant to purchase 1,000,000 TMC common shares at an initial $5.87 exercise price.

What financial obligations does TMC assume under the Deed of Guarantee?

TMC guarantees TOML’s monetary obligations to Tonga and offers limited indemnification, creating a direct corporate liability.

Will the warrant be immediately exercisable?

No. It vests only after specific U.S. regulatory approvals and commercial recovery milestones are met.

When will TMC discuss the new technical reports and strategy?

During a Strategy Event on August 4, 2025 at 9:00 a.m. EDT, with slides furnished as Exhibit 99.1.
Tmc The Metals Company Inc

NASDAQ:TMC

TMC Rankings

TMC Latest News

TMC Latest SEC Filings

TMC Stock Data

2.45B
225.44M
43.3%
9.31%
5.13%
Other Industrial Metals & Mining
Metal Mining
Canada
VANCOUVER