TMC (TMC) Soars 28.8% as Key Investor Places $85-Million Bet

TMC the metals company Inc. (NASDAQ:TMC) is one of the 10 Stocks Post Jaw-Dropping Gains.

TMC rallied by 28.80 percent on Monday to finish at $5.59 apiece after raising $85.2 million in fresh funds from a new investor.

In a statement, 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 common shares at a price of $4.34 apiece.

Under the agreement, Korea Zinc will also have with 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 strategic shareholders with ownership of approximately 5 percent of the company’s outstanding common shares. It said the transaction is expected to close on June 26, 2025.

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.

A tunneling machine underground, deep in the mine to extract the polymetallic nodules.

Korea Zinc also expressed interest in working with TMC USA to establish processing, refining and potentially pCAM manufacturing capacity in the United States.

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Disclosure: None. This article is originally published at Insider Monkey.