Sustainable Opportunities Holdings LLC - 09 Sep 2021 Form 4 Insider Report for TMC the metals Co Inc. (TMC)

Role
Former 10% holder
Signature
/s/ Scott Leonard as Manager
Issuer symbol
TMC
Transactions as of
09 Sep 2021
Net transactions value
$0
Form type
4
Filing time
10 Sep 2021, 19:43:45 UTC
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TMC Common Shares Options Exercise +7,410,000 7,410,000 09 Sep 2021 Direct F1
transaction TMC Common Shares Disposed to Issuer -741,000 -10% 6,669,000 09 Sep 2021 Direct F2

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 Class B ordinary shares Options Exercise -7,410,000 -100% 0 09 Sep 2021 Class A ordinary shares 7,410,000 Direct F1
transaction TMC Class I Special Shares Award +500,000 500,000 09 Sep 2021 Common Shares 500,000 Direct F2
transaction TMC Class J Special Shares Award +741,000 741,000 09 Sep 2021 Common Shares 741,000 Direct F2
transaction TMC Warrants to purchase Common Shares Other +9,500,000 9,500,000 09 Sep 2021 Common Shares 9,500,000 $11.50 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Sustainable Opportunities Holdings LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On September 9, 2021, Sustainable Opportunities Acquisition Corp. (the former name of the Issuer), consummated its initial business combination (the "Business Combination") with DeepGreen Metals Inc. In connection with the Business Combination, each Class B ordinary share automatically converted into one common share on a one-for-one basis.
F2 In connection with the Business Combination, the Reporting Person exchanged 741,000 common shares for Class I Special Shares and Class J Special Shares, each of which is automatically convertible into common shares on a one-for-one basis if the common shares trade for at least $50.00 per share, in the case of the Class I Special Shares, or $12.00 per share, in the case of the Class J Sponsor Shares, in each case on any twenty trading days in any thirty trading day period or in the event of certain changes of control.
F3 Pursuant to the private placement warrant purchase agreement between the Reporting Person and the Issuer, dated as of May 5, 2020, the Reporting Person purchased an aggregate of 9,500,000 private placement warrants to purchase Class A ordinary shares on a one-for-one basis. In connection with the Business Combination, the private placement warrants became exercisable for common shares on a one-for-one basis at a price of $11.50 per share. The private placement warrants may be exercised only during the period commencing 30 days after completion of the Business Combination and expire five years after the completion of the Business Combination or earlier upon redemption or liquidation.