secwatch.observer — SEC 8-K summary
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Issuer:     TMC the metals Co Inc. (TMC)
CIK:        0001798562
Form:       8-K
Filed at:   2023-02-17T23:59:59+00:00
Accession:  0001104659-23-023295
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TMC issues 10.85M shares to Allseas to settle $10M pilot test payment
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- Issued 10,850,000 common shares at $1.00/share to Allseas for successful completion of pilot mining test.
- Shares in lieu of cash; fully satisfies $10M payment and all other amounts owed under the agreement.
- Fifth Amendment effective Feb 8, 2023; completion certificate for PMTS achieved.
- Allseas acknowledges no further cash payments due; shares to be issued within 10 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798562/000110465923023295/0001104659-23-023295-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798562/000110465923023295/tm237199d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-023295

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