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TMC’s actions are deployed today after the company announced that it had changed the conditions for the mandates of action previously issued.
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The company has taken measures to reduce the number of actions that will be issued from the terms.
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The news is following a big investment agreement that TMC announced at the start of this week.
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10 actions that we love better than TMC The Metals Company ›
TMC The Metals Company (Nasdaq: TMC) The stock roars Wednesday. The company’s share price increased from 23.7% to 3.30 p.m.. In the meantime, the S&P 500 (Snpindex: ^ GSPC) was almost flat in the day’s trade.
The assessment of TMC is skyrocketing after the mining specialist published an update which reduces the concerns of investors concerning the dilution of actions. The news helped continue a large gathering for the stock which was launched earlier this week by the announcement that TMC had signed a large investment agreement with a South Korean company.
After the closing of the market yesterday, TMC submitted a file to the Securities and Exchange Commission (SEC) indicating that he had modified the conditions of actions of class B shares to buy 9.95 million ordinary shares at a price of $ 2 per share. Thanks to the file, the company revealed that it had renounced a requirement which would prevent the holders of the mandates from exercising them by an exercise without species.
In other words, the holders of the mandates do not need to pay the exercise price of $ 2 per share and can rather pay the exercise price with an ordinary action value in exchange for receiving ordinary shares less. The company says that it believes that its new approach to mandates is in the best interests of shareholders, as it could reduce the amount of shares issued by mandates, and investors seem to be enthusiastic about the new arrangement.
On Monday, TMC announced that Korea Zinc would make an investment of $ 85.2 million in the company in exchange for 19.6 million ordinary shares. Depending on the conditions, Korea Zinc will also receive mandates to buy 6.9 million ordinary shares at an exercise price of $ 7 per share. The agreement will provide TMC with a new injection of substantial capital and also signals a high level of confidence in its mining operations and its performance prospects for actions. As evidenced by the recent modification of class B mandates previously published, the agreement also gave TMC financial flexibility and financial confidence.
Before buying actions in TMC, the metal company, consider this:
