TMC the metals company Inc. (NASDAQ:TMC) is one of the best performing mid cap stocks so far in 2025. On June 16, TMC announced that Korea Zinc Co. Ltd., which is a global leader in non-ferrous metal refining and precursor Cathode Active Material (pCAM) technology, has agreed to make an equity investment in TMC.
This investment totals ~$85.2 million and will be made through a private placement involving the purchase of common shares and warrants. Under the agreement, Korea Zinc is to acquire 19.6 million common shares at the last market closing price of $4.34 per share.
Aerial view of a manned drilling rig at a precious metals mine in the Americas.
Additionally, Korea Zinc will receive a 3-year warrant to purchase 6.9 million common shares at an exercise price of $7.00 per share. These warrants are structured such that for every 1 initial common share purchased, 0.35 warrant shares are granted for no additional consideration.
TMC the metals company Inc. (NASDAQ:TMC) is a deep-sea minerals exploration company that collects, processes, and refines polymetallic nodules found on the seafloor in California.
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Disclosure: None. This article is originally published at Insider Monkey.
