Company: TMCWW
Filing Date: 2025-01-10
Form Type: 8-K
Source: 0001104659-25-002593
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Company: TMC the metals Co Inc.
Filing Date: 2025-01-10
Form: 8-K
Item: Item 3.01
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Item 3.01.      Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.  

On January 6, 2025, TMC
the metals company Inc. (the “ Company”) received a written notice from The Nasdaq Stock Market LLC
(“ Nasdaq”) notifying the Company that the closing bid price of the Company’s common shares (the “ Common
Shares”) over the 34 consecutive trading days from November 7, 2024 through December 26, 2024 had fallen below $1.00 per
share, which is the minimum closing bid price (the “ Minimum Bid Price”) required to maintain listing on the Nasdaq Stock Market
under Nasdaq Listing Rule 5450(a)(1) (the “ Minimum Bid Requirement”).

In accordance with Nasdaq
Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until July 7, 2025, to regain compliance with the Minimum Bid Requirement (the “ Grace
Period”), subject to a potential 180 calendar day extension, as described below. To regain compliance, the closing bid price of
the Common Shares must be at least $1.00 per share for a minimum of 10 consecutive trading days before the Grace Period lapses.

The Company received
similar notifications from the Nasdaq in December 2022 and April 2023. After the closing bid price of the Common Shares
exceeded the Minimum Bid Price for 10 consecutive trading days in each of the respective Grace Periods, the Company regained
compliance with the Minimum Bid Requirement. The closing bid price of the Common Shares has exceeded the Minimum Bid Price on each
of the nine consecutive trading days from December 27, 2024 through the date of this filing.

If the Company does not achieve
compliance with the Minimum Bid Requirement by the Grace Period, the Company may be eligible for an additional 180 calendar
day period to regain compliance. To qualify, the Company would be required, among other things, to meet the continued listing requirement
for the market value of its publicly held shares and all other Nasdaq initial listing standards for the Nasdaq Capital Market, with the
exception of the Minimum Bid Requirement, and would need to provide written notice to Nasdaq of its intention and plan to cure the deficiency
during the second compliance period by effecting a reverse stock split if necessary. However, if it appears to Nasdaq staff that the Company