Prospective deep-sea miners $200m down

Date: October 20, 2021

Source: Financial Times

Author: Ortenca Allaj

Prospective deep-sea miners, The Metals Company, previously known as DeepGreen have been left with a $200m hole with funding failing to materialise from Ramas Capital Management, led by former JPMorgan Chase analyst Ganesh Betanabhatla.

“Since The Metals Company disclosed in early September that about two-thirds of its Pipe funding had not been received, shares in the company have sunk by as much as 70 per cent, to less than $4, hurting investors who bought in at the $10 offer price.”

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