Angelica Ballesteros
2 min read
TMC the metals company Inc. (NASDAQ:TMC) is one of the Double-Digit Winners: 10 Stocks Crushing The Market.
TMC rallied by 51 percent week-on-week, ending Friday’s trading at $6.56 versus the $4.34 on June 13, after raising $85.2 million in fresh funds from a new investor.
In a statement earlier last week, TMC the metals company Inc. (NASDAQ:TMC) said that it entered into a strategic agreement with South Korea-based Korea Zinc—a non-ferrous metal refining and precursor Cathode Active Material (pCAM) technology company—for the acquisition of 19.6 million TMC common shares at a price of $4.34 apiece.
Part of the agreement also allows Korea Zinc to hold a three-year warrant to purchase 6.9 million common shares with an exercise price per share of $7 apiece.
Upon closing, Korea Zinc will become one of TMC’s largest shareholders with ownership of approximately 5 percent of its outstanding common shares. The transaction is expected to close on June 26, 2025.
A tunneling machine underground, deep in the mine to extract the polymetallic nodules.
Korea Zinc is currently evaluating a bulk sample of nodule material supplied by The Metals Company USA, LLC (TMC USA) under an existing LOI, with its research and development team to validate intermediate processing and refining pathways and potential synergies through vertical integration.
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Disclosure: None. This article is originally published at Insider Monkey.
