TMC enters $5M working capital loan from Allseas Investments, matures April 2025

TMC the metals Co Inc.

Loan of $5 million from Allseas Investments SA, a related party, for general corporate purposes and to repay a $2M short-term loan from Argentum.
$2,047,111.11 of the loan proceeds were paid directly to Argentum to settle the matured short-term loan.
Interest at 6-month annualized SOFR plus a 4.0% margin, payable in two installments (Jan 2, 2025 and Apr 1, 2025); deferred option at +5.0% margin.
Loan is unsecured, matures April 1, 2025, and may be prepaid without penalty; lender can accelerate on a Change of Control.

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