TMC the metals Co Inc. reported a significant equity issuance to Allseas Group S.A. tied to a commercial development and production arrangement between the companies. On July 1, 2026, Allseas acquired 7,305,567 common shares of TMC. The shares were issued at $4.66 per share, implying an aggregate value of approximately $34.0 million. The issuance was made pursuant to a Contract for Development Work and Commercial Production between TMC and a wholly owned subsidiary of Allseas. That agreement was dated May 11, 2026, and was effective as of March 30, 2026. Under the arrangement, TMC is required to issue common shares to Allseas in accordance with the commercial terms of the contract. The filing identifies the securities as TMC common shares and describes the July 1 transaction as an acquisition by Allseas. No separate transaction code is shown in the provided text, and the excerpt does not state Allseas’s total ownership after the issuance. The reported transaction nevertheless indicates that Allseas received a large block of TMC stock as part of its commercial relationship with the company, rather than through an open-market purchase. The ownership notes state that the shares are directly owned by Allseas Group S.A. Edward Heerema has sole authority over Allseas, and he, Allseas Investments S.A., Argentum Cedit Virtuti NV, and Stichting Administratiekantoor Aequa Lance Foundation may be deemed to have beneficial ownership of the shares held by Allseas through their control relationships. Each of those parties disclaims beneficial ownership except to the extent of their pecuniary interest. A separate note also states that certain securities are owned by Argentum Cedit Virtuti NV, over which Edward Heerema may be deemed to have voting and investment power, with a similar disclaimer of beneficial ownership. The Form 4 was signed on July 7, 2026, by Pieter Heerema as president and authorized signatory of Allseas Group S.A., and by Edward Heerema personally and as president and authorized signatory of Allseas Investments S.A.