TMC enters $30M at-the-market equity distribution agreement with Stifel and Wedbush

TMC the metals Co Inc.

Company may sell up to $30M of common shares at market prices through Stifel and Wedbush as sales agents.
Agents receive up to 3.0% commission on gross proceeds; company reimburses legal fees up to $75,000.
Sales made under existing effective shelf registration statement on Form S-3 (File No. 333-267479).
Company has no obligation to sell any shares; may suspend or terminate the agreement at any time.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TMC the metals Co Inc. entered into At-The-Market Equity Distribution Agreement with Stifel, Nicolaus & Company, Incorporated and Wedbush Securities Inc. valued at up to $30 million (effective 2022-12-22).

Action: entry
Agreement: atm program
Counterparty: Stifel, Nicolaus & Company, Incorporated and Wedbush Securities Inc.
Value: up to $30 million
Effective: 2022-12-22

Exact text from the filing

On December 22, 2022, TMC the metals company Inc. (the “Company”) entered into an At-The-Market Equity Distribution Agreement (the “Agreement”) with Stifel, Nicolaus & Company, Incorporated and Wedbush Securities Inc., as sales agents (the “Agents”), pursuant to which the Company may, from time to time, issue and sell its common shares, without par value, with an aggregate offering price of up to $30 million (the “Shares”) through the Agents.

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Source: SEC EDGAR

accession 0001104659-22-129609

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