TMC Secures $85.2 Mln Investment From Korea Zinc, Stock Up In Pre-Market

(RTTNews) - TMC the metals company Inc. (TMC), Monday announced that Korea Zinc has agreed to make an investment of approximately $85.2 million through the purchase of common shares and warrants in a private placement.

As per the deal, Korea Zinc will purchase 19.6 million shares at $4.34 per share and will receive a three-year warrant to purchase 6.9 million common shares with an exercise price of $7.00 per share, making it one of the largest strategic shareholders of the company with ownership of about 5 percent.

The company stated that the investment would boost the potential of both firms to meet the United States' demand for refined nickel, cobalt and manganese, as well as contribute copper while completely by-passing the Chinese supply chain.

Additionally, Korea Zinc has expressed interest in working with TMC USA to establish processing, refining and potentially pCAM manufacturing capacity in the nation.

The deal is set to close on June 26, 2025.

In the pre-market hours, TMC is trading at $4.7, up 8.2 percent on the Nasdaq.