<SEC-DOCUMENT>0001213900-21-047788.txt : 20210913
<SEC-HEADER>0001213900-21-047788.hdr.sgml : 20210913
<ACCEPTANCE-DATETIME>20210913193458
ACCESSION NUMBER:		0001213900-21-047788
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210909
FILED AS OF DATE:		20210913
DATE AS OF CHANGE:		20210913

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Karkar Andrei
		CENTRAL INDEX KEY:			0001874431

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39281
		FILM NUMBER:		211250884

	MAIL ADDRESS:	
		STREET 1:		323 MARINA BOULEVARD
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94123

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ERAS Capital LLC
		CENTRAL INDEX KEY:			0001881973
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39281
		FILM NUMBER:		211250883

	BUSINESS ADDRESS:	
		STREET 1:		323 MARINA BOULEVARD
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94123
		BUSINESS PHONE:		415-567-0509

	MAIL ADDRESS:	
		STREET 1:		323 MARINA BOULEVARD
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94123

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TMC the metals Co Inc.
		CENTRAL INDEX KEY:			0001798562
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1601 BRYAN STREET
		STREET 2:		SUITE 4141
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		214-642-9996

	MAIL ADDRESS:	
		STREET 1:		1601 BRYAN STREET
		STREET 2:		SUITE 4141
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Sustainable Opportunities Acquisition Corp.
		DATE OF NAME CHANGE:	20200102
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-09-09</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001798562</issuerCik>
        <issuerName>TMC the metals Co Inc.</issuerName>
        <issuerTradingSymbol>TMC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001874431</rptOwnerCik>
            <rptOwnerName>Karkar Andrei</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TMC THE METALS COMPANY INC.</rptOwnerStreet1>
            <rptOwnerStreet2>595 HOWE STREET, 10TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>VANCOUVER</rptOwnerCity>
            <rptOwnerState>A1</rptOwnerState>
            <rptOwnerZipCode>V6C 2T5</rptOwnerZipCode>
            <rptOwnerStateDescription>BRITISH COLUMBIA, CANADA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001881973</rptOwnerCik>
            <rptOwnerName>ERAS Capital LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TMC THE METALS COMPANY INC.</rptOwnerStreet1>
            <rptOwnerStreet2>595 HOWE STREET, 10TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>VANCOUVER</rptOwnerCity>
            <rptOwnerState>A1</rptOwnerState>
            <rptOwnerZipCode>V6C 2T5</rptOwnerZipCode>
            <rptOwnerStateDescription>BRITISH COLUMBIA, CANADA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2021-09-09</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>39621909</value>
                </transactionShares>
                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
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                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Eras Capital LLC</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
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            </securityTitle>
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            <transactionDate>
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                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>578931</value>
                </transactionShares>
                <transactionPricePerShare>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2028-06-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                    <footnoteId id="F4"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
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                    <footnoteId id="F4"/>
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            <ownershipNature>
                <directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.52</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-09-09</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>63682</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F8"/>
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                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F6"/>
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            <expirationDate>
                <value>2026-02-17</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                    <footnoteId id="F7"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>63682</value>
                    <footnoteId id="F7"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>63682</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.65</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-09-09</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>126407</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F11"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
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            <exerciseDate>
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            <expirationDate>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
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                    <footnoteId id="F10"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
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                    <footnoteId id="F10"/>
                </underlyingSecurityShares>
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                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
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                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Class A Special Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F12"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-09-09</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>864493</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F12"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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            <exerciseDate>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
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                </underlyingSecurityTitle>
                <underlyingSecurityShares>
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                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
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                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
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                </directOrIndirectOwnership>
                <natureOfOwnership>
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        <derivativeTransaction>
            <securityTitle>
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            <ownershipNature>
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            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>4322463</value>
                </transactionShares>
                <transactionPricePerShare>
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                <directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Class H Special Shares</value>
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                <footnoteId id="F12"/>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F12"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F12"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4322463</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4322463</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Eras Capital LLC</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On September 9, 2021, Sustainable Opportunities Acquisition Corp. (&quot;SOAC&quot;) (the former name of the Issuer), consummated its initial business combination (the &quot;Business Combination&quot;) with DeepGreen Metals Inc. (&quot;DeepGreen&quot;) and changed its name to &quot;TMC the metals company Inc.&quot; or &quot;TMC&quot;. In connection with the Business Combination, these Common Shares were received in exchange for 39,621,909 Class A ordinary shares of SOAC.</footnote>
        <footnote id="F2">The securities are held directly by ERAS Capital LLC (&quot;ERAS&quot;). The Reporting Person is the managing member of ERAS and shares voting and dispositive power over and may be deemed to beneficially own such securities held by ERAS. The Reporting Person disclaims beneficial ownership over any securities owned by ERAS other than to the extent of any pecuniary interest he may have therein.</footnote>
        <footnote id="F3">Fully vested as of September 1, 2019.</footnote>
        <footnote id="F4">Also includes the right to purchase 12,631 Class A Special Shares, 25,262 Class B Special Shares, 25,262 Class C Special Shares, 50,525 Class D Special Shares, 50,525 Class E Special Shares, 50,525 Class F Special Shares, 63,157 Class G Special Shares and 63,157 Class H Special Shares.</footnote>
        <footnote id="F5">Received in connection with the Business Combination in exchange for a stock option to acquire 500,000 shares of DeepGreen common stock for $0.75 per share.</footnote>
        <footnote id="F6">Fully vested as of February 17, 2021.</footnote>
        <footnote id="F7">Also includes the right to purchase 1,389 Class A Special Shares, 2,778 Class B Special Shares, 2,778 Class C Special Shares, 5,557 Class D Special Shares, 5,557 Class E Special Shares, 5,557 Class F Special Shares, 6,947 Class G Special Shares and 6,947 Class H Special Shares.</footnote>
        <footnote id="F8">Received in connection with the Business Combination in exchange for a stock option to acquire 55,000 shares of DeepGreen common stock for $0.60 per share.</footnote>
        <footnote id="F9">These stock options vest as follows, subject to continued service through each vesting threshold: (i) 25% if TMC's market capitalization equals or exceeds $3.0 billion; (ii) 35% if TMC's market capitalization equals or exceeds $6.0 billion; (iii) 20% if the International Seabed Authority grants an exploitation contract to TMC; and (iv) 20% upon the commencement of the first commercial production following the grant of the exploitation contract. These stock options are exercisable at any time until March 5 of the year following vesting of such stock option (any such date, the &quot;Exercise Date&quot;). These stock options expire on the day after the Exercise Date.</footnote>
        <footnote id="F10">Also includes the right to purchase 2,758 Class A Special Shares, 5,516 Class B Special Shares, 5,516 Class C Special Shares, 11,032 Class D Special Shares, 11,032 Class E Special Shares, 11,032 Class F Special Shares, 13,790 Class G Special Shares and 13,790 Class H Special Shares.</footnote>
        <footnote id="F11">Received in connection with the Business Combination in exchange for a stock option to acquire 109,173 shares of DeepGreen common stock for $0.75 per share.</footnote>
        <footnote id="F12">Each of the Class A Special Shares, the Class B Special Shares, the Class C Special Shares, the Class D Special Shares, the Class E Special Shares, the Class F Special Shares, the Class G Special Shares and the Class H Special Shares (collectively, the &quot;Special Shares&quot;) automatically convert into Common Shares on a one for one basis, if on any twenty trading days within any thirty trading day period, the Common Shares trade for a price that is greater than or equal to the price threshold for such class of Special Shares (the &quot;Price Threshold&quot;) described below, or in the event of certain changes of control. The Price Thresholds for the Special Shares are as follows: Class A Special Shares ($15.00), Class B Special Shares ($25.00), Class C Special Shares ($35.00), Class D Special Shares ($50.00), Class E Special Shares ($75.00), Class F Special Shares ($100.00), Class G Special Shares ($150.00), and Class H Special Shares ($200.00).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jaime Lee, Attorney-in-Fact</signatureName>
        <signatureDate>2021-09-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
