Allseas Group S.A. - Jul 24, 2023 Form 4 Insider Report for TMC the metals Co Inc. (TMC)

Role
10%+ Owner
Signature
/s/ Edward Heerema, President and authorized signatory of Allseas Group S.A.
Stock symbol
TMC
Transactions as of
Jul 24, 2023
Transactions value $
$115,786
Form type
4
Date filed
8/15/2023, 04:16 PM
Previous filing
Mar 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TMC Common Shares Exercise of in-the-money or at-the-money derivative security $116K +11.6M +34.51% $0.01* 45.1M Jul 24, 2023 Direct F1
transaction TMC Common Shares Purchase +4.15M +9.2% 49.3M Aug 1, 2023 Direct F1, F2
transaction TMC Common Shares Purchase +3.5M +7.1% 52.8M Aug 14, 2023 Direct F1, F3
holding TMC Common Shares 1M Jul 24, 2023 Direct F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TMC Allseas Warrant (right to buy) Exercise of in-the-money or at-the-money derivative security $0 -11.6M -100% $0.00* 0 Jul 24, 2023 Common Shares 11.6M $0.01 Direct
transaction TMC Class A Warrants (right to buy) Purchase +3.5M 3.5M Aug 14, 2023 Common Shares 1.75M $3.00 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These securities are owned by Allseas Group S.A. ("Allseas"). Mr. Edward Heerema, the Administrateur President of Allseas, has sole authority over Allseas. Mr. Heerema, Allseas Investments S.A., ("Allseas Investments"), the majority parent of Allseas, Argentum Cedit Virtuti GCV ("ACV"), the parent of Allseas Investments, and Stichting Administratiekantoor Aequa Lance Foundation, the parent of ACV, may be deemed to have beneficial ownership of the shares owned by Allseas. Each of Mr. Heerema, Allseas Investments, ACV and Stichting Administratiekantoor Aequa Lance Foundation disclaims beneficial ownership over any securities directly held by Allseas, except to the extent of his or its respective pecuniary interest therein.
F2 The issuer and Allseas entered into an Exclusive Vessel Use Agreement pursuant to which Allseas allocates the vessel Hidden Gem exclusively in support of the development of the Project Zero Offshore System until the system is completed on December 31, 2026, whichever is earlier. In consideration of the exclusivity term, the issuer will issue to Allseas these securities.
F3 On August 14, 2023, Allseas acquired 3,500,000 shares of TMC Common Shares and accompanying Class A Warrants to purchase 1,750,000 shares of TMC Common Shares for a total purchase price of $7 million.
F4 These securities are owned by ACV. Mr. Heerema may be deemed to have voting and investment power over the shares owned by ACV. Mr. Heerema disclaims beneficial ownership over any securities directly held by ACV, except to the extent of his pecuniary interest therein.