secwatch.observer — SEC 8-K summary
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Issuer:     TMC the metals Co Inc. (TMC)
CIK:        0001798562
Form:       8-K
Filed at:   2024-09-12T23:59:59+00:00
Accession:  0001104659-24-099119
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798562/000110465924099119/0001104659-24-099119-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798562/000110465924099119/tm2423852d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-099119

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