secwatch.observer — SEC 8-K summary
======================================

Issuer:     TMC the metals Co Inc. (TMC)
CIK:        0001798562
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001104659-23-091027
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TMC raises ~$27M in registered direct offering at $2.00/unit with warrants
--------------------------------------------------------------------------

- Sold 13.46M common shares and Class A warrants to buy 6.73M shares at $2.00/unit; gross proceeds ~$27M.
- ERAS Capital (director Andrei Karkar) buys $10M; Allseas Group $7M; CEO, CFO, board also participate.
- Additional option: up to $11M if TMC stock ≤$3.00 before Sep 15, 2023.
- Initial close Aug 16; two additional closings of $2.5M (Nov 30, 2023) and $6.5M (Jan 31, 2024).
- Warrants exercisable at $3.00, expire Dec 31, 2027; redeemable if VWAP > $6.50 for 30 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798562/000110465923091027/0001104659-23-091027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798562/000110465923091027/tm2323509d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-091027

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer