TMC The Metals Company Inc. Announces Conclusion Of SEC Investigation; No Enforcement Action Recommended Against Company Or Officers Regarding 2020 Acquisition Of Tonga Offshore Mining Limited And 2021 Business Combination With Sustainable Opportunities Acquisition Corp.
Portfolio Pulse from Benzinga Newsdesk
TMC The Metals Company Inc. announced the conclusion of an SEC investigation with no enforcement action recommended against the company or its officers regarding the 2020 acquisition of Tonga Offshore Mining Limited and the 2021 business combination with Sustainable Opportunities Acquisition Corp.
May 28, 2024 | 12:21 pm
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The SEC has concluded its investigation into TMC The Metals Company Inc. with no enforcement action recommended. This pertains to the company's 2020 acquisition of Tonga Offshore Mining Limited and the 2021 business combination with Sustainable Opportunities Acquisition Corp.
The conclusion of the SEC investigation without any enforcement action is a positive development for TMC, as it removes a significant legal overhang. This could boost investor confidence and potentially lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100