13 Sept 2021director interest notice● Neutral
TMC the metals Co Inc. Chief Development Officer O'sullivan Anthony received 575,110 shares and a 2,035,727-share option grant as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Sept 2021director interest notice● Neutral
Andrei Karkar became a TMC the metals Co Inc. director and company insider (initial ownership filing).
13 Sept 2021director interest notice● Neutral
Erika Ilves became a TMC the metals Co Inc. Head of Strategy and BD and company insider (initial ownership filing).
13 Sept 2021director interest notice● Neutral
Amelia Kinahoi Siamomua became a TMC the metals Co Inc. director and company insider (initial ownership filing).
13 Sept 2021director interest notice● Neutral
TMC the metals Co Inc. Chief Financial Officer Shesky Craig received 308,762 shares and a 839,952-share option grant as part of the equity award.
13 Sept 2021director interest notice● Neutral
TMC the metals Co Inc. director Karkar Andrei received 39,621,909 shares and a 24,110,319-share option grant as part of the equity award.
13 Sept 2021director interest notice● Neutral
Andrew Hall became a TMC the metals Co Inc. director and company insider (initial ownership filing).
13 Sept 2021director interest notice● Neutral
Craig Shesky became a TMC the metals Co Inc. Chief Financial Officer and company insider (initial ownership filing).
13 Sept 2021director interest notice● Neutral
Anthony O'sullivan became a TMC the metals Co Inc. Chief Development Officer and company insider (initial ownership filing).
10 Sept 2021listing compliance notice▲ GoodMajor
the exchange certified TMC the metals Co Inc.'s securities for listing, clearing them to begin trading.
10 Sept 2021director interest notice● Neutral
TMC the metals Co Inc. insider Barchas Isaac exercised stock options for 30,000 shares and disposed of 30,000 shares.
10 Sept 2021director interest notice● Neutral
TMC the metals Co Inc. insider Kelly Justin exercised stock options for 30,000 shares and disposed of 30,000 shares.
10 Sept 2021director interest notice● Neutral
Stryker Gina became a TMC the metals Co Inc. director and company insider (initial ownership filing).
10 Sept 2021director interest notice● Neutral
TMC the metals Co Inc. insider Gaenzle Rick exercised stock options for 30,000 shares and disposed of 30,000 shares.
9 Sept 2021listing compliance notice▼ BadMajor
TMC the metals Co Inc.'s securities were notified for removal from listing and registration on its exchange.
8 Sept 2021substantial holder notice● Neutral
Feis Equities LLC, Lawrence M. Feis reported no remaining TMC the metals Co Inc. shareholding in its periodic institutional filing.
7 Sept 2021merger communication▲ GoodMajor
SOAC shareholders approved the business combination and all related proposals at their September 3, 2021 special meeting, clearing the final hurdle before closing the DeepGreen merger.
30 Aug 2021substantial holder notice● Neutral
Feis Equities LLC, Lawrence M. Feis reported a TMC the metals Co Inc. shareholding of 3,287,252 shares (10.96% of votes) in a periodic institutional filing.
27 Aug 2021merger communication● Neutral
Duplicate filing of the same NYSE delisting announcement.
27 Aug 2021business combination● Neutral
SOAC formally announced its intent to voluntarily delist its units, shares and warrants from the NYSE upon closing the DeepGreen merger, confirming the post-merger entity would be named TMC.
26 Aug 2021business combination▼ Bad
SOAC disclosed plans to voluntarily delist from the NYSE and rename itself TMC the metals company Inc. upon closing the DeepGreen merger, and disclosed six shareholder demand letters alleging its merger proxy statement had disclosure deficiencies -- a common pattern in SPAC-merger litigation, which SOAC said it believed were without merit.
26 Aug 2021merger communication▼ Bad
Duplicate filing disclosing SOAC's plan to voluntarily delist from the NYSE and rename itself TMC the metals company Inc. upon closing, alongside disclosure that SOAC had received six shareholder demand letters alleging its merger proxy statement had disclosure deficiencies.
25 Aug 2021substantial holder notice● Neutral
Feis Equities LLC, Lawrence M. Feis disclosed a new substantial TMC the metals Co Inc. shareholding (5.18% of votes).
16 Aug 2021merger communication● Neutral
SOAC announced its definitive merger proxy statement/prospectus had been filed and set September 3, 2021 for its shareholder vote, with its board recommending shareholders vote FOR the deal.
16 Aug 2021quarterly activities report▼ Bad
TMC the metals Co Inc. reported a quarterly net loss of $36.7 million for the period ended 2021-09-30.
13 Aug 2021securities registration● Neutral
TMC the metals Co Inc. filed the final prospectus for a registered offering.
5 Aug 2021business combination▼ BadMajor
Amendment No. 5 attached a caveat to DeepGreen's headline environmental claim: the life-cycle assessments behind the "70-99% reduction in most lifecycle ESG impacts" were not only commissioned by DeepGreen but co-authored by its own executive officers, a fact the earlier versions did not mention, and the claim itself was recast as something DeepGreen believes. It also confirmed the collector-test environmental impact statement had actually been lodged with the International Seabed Authority in July.
29 July 2021business combination● NeutralMajor
Amendment No. 4 hardened the environmental language substantially: "some uncertainty" about biodiversity impact became "significant uncertainty", and commercial-scale collection went from potentially harmful to "certain to disturb wildlife in the operating area". Against that, it disclosed the regulatory clock DeepGreen was counting on -- on 25 June 2021 Nauru gave the International Seabed Authority formal notice requiring it to adopt exploitation regulations by 9 July 2023, or consider a plan of work anyway.
14 July 2021business combination▼ Bad
Amendment No. 3 walked back the tax position: what had been stated as intended to be a tax-deferred reorganisation now "generally should" be one, with a new admission that for a company holding only investment-type assets the point "is not entirely free from doubt". It also recorded that DeepGreen and Allseas had again moved the $10 million instalment due on 30 June 2021 under their pilot mining test agreement, to within ten business days of the deal closing.
29 June 2021merger communication▲ GoodMajor
DeepGreen announced its securityholders overwhelmingly approved the business combination with SOAC (90.4% of outstanding shares voted, none against), clearing the way for closing expected in the third quarter of 2021.