TMC the metals company, Inc.


On October 6, 2021, short seller Bonitas Research issued a report alleging problems at TMC the metals company, Inc., indicating the Company overpaid on exploration licenses to potential undisclosed insiders, including paying $43 million for a potentially unusable license, and artificially inflated its exploration expenses.

TMC the metals company, went public via a deSPAC transaction with blank check company Sustainable Opportunities Investment Corporation in September 2021.

On this news, shares of TMC the metals company, fell over 6% in intraday trading on October 6, 2021.

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