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

Issuer:     TMC the metals Co Inc. (TMC)
CIK:        0001798562
Form:       8-K
Filed at:   2024-11-26T23:59:59+00:00
Accession:  0001104659-24-123189
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TMC ups registered direct offering to $19.9M, adds 2.4M shares and warrants
---------------------------------------------------------------------------

- Amended securities purchase agreement to increase offering by 2.4M common shares and 1.2M Class B warrants at $1.00 per unit.
- Total offering now up to 19.9M shares and 9.95M warrants; expected gross proceeds ~$19.9M before expenses.
- First closing on Nov 18, 2024 raised $14.9M; additional $5M commitment from one investor not yet closed.
- Class B warrants have $2.00 exercise price, expire in 5 years, and include price-based anti-dilution through Dec 31, 2024.
- Company agreed to a six-month ban on issuing shares below $1.00 per share (subject to customary exceptions).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798562/000110465924123189/0001104659-24-123189-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798562/000110465924123189/tm2429063d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-123189

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