TMC the Metals Co. Enters Material Definitive Agreement

TL;DR

TMC just signed a big deal, could mean new money or debt.

AI Summary

On October 18, 2024, TMC the Metals Company Inc. entered into a material definitive agreement related to a direct financial obligation. The company, formerly known as Sustainable Opportunities Acquisition Corp., is involved in the metal mining industry.

Why It Matters

This filing indicates a significant new financial commitment or obligation for TMC the Metals Company, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial risks or obligations that require careful monitoring.

Key Players & Entities

• TMC the Metals Company Inc. (company) — Filer
• Sustainable Opportunities Acquisition Corp. (company) — Former company name
• October 18, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $11.50 — mon Share, each at an exercise price of $11.50 per share TMCWW The Nasdaq Stock Ma
• $5 million — ncrease the loan amount thereunder from $5 million to $7.5 million (the "Amendment"). Such
• $7.5 million — an amount thereunder from $5 million to $7.5 million (the "Amendment"). Such additional loan

Filing Documents

• tm2426755d1_8k.htm (8-K) — 31KB
• tm2426755d1_ex10-1.htm (EX-10.1) — 20KB
• 0001104659-24-111183.txt ( ) — 276KB
• tmc-20241018.xsd (EX-101.SCH) — 4KB
• tmc-20241018_def.xml (EX-101.DEF) — 27KB
• tmc-20241018_lab.xml (EX-101.LAB) — 36KB
• tmc-20241018_pre.xml (EX-101.PRE) — 25KB
• tm2426755d1_8k_htm.xml (XML) — 6KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On October 18, 2024, TMC the metals company Inc. (the "Company") entered into an amendment to the Working Capital Loan Agreement, dated September 9, 2024, between the Company (as borrower) and Allseas Investments SA (as lender) to increase the loan amount thereunder from $5 million to $7.5 million (the "Amendment"). Such additional loan amount is to be used for general corporate purposes. The foregoing description of the Amendment does not purport to be a complete description of the rights and obligations of the parties thereunder and is qualified in its entirety by reference to the full text of the Amendment attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 is incorporated into this Item 2.03 by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. The following exhibits are being filed herewith: (d) Exhibits. Exhibit No. Description 10.1 Amendment to the Working Capital Loan Agreement, dated October 18, 2024, by and between the Company and Allseas Investments SA. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). Certain confidential portions of this Exhibit were omitted by means of marking such portions with brackets ("[***]") because the identified confidential portions (i) are not material and (ii) is the type of information that the Company treats as private or confidential.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TMC THE METALS COMPANY INC. Date: October 24, 2024 By: /s/ Gerard Barron Name: Gerard Barron Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR