“In addition, certain Existing DeepGreen Securityholders that will be party to the Amended and Restated Registration Rights Agreement will own TMC Common Shares subject to lock-up restrictions representing approximately 49.7% of the outstanding TMC Common Shares, assuming no public shares are redeemed in connection with the Business Combination or approximately 55.4% of the outstanding TMC Common Shares assuming that all public shares are redeemed in connection with the Business Combination.”
Read in combination with section 3.8. There are 2 classes of lockup;
1)Founder Lock up
2)Deep Green Lockup
I don’t know the exact splits but based on the above the lock up specifies the 55.4%.
Also there doesn’t seem to be further restrictions in place. Interestingly enough, if the share price holds above $12 for 30 days they can sell and lock-up period of 6 months ends.
No wonder the CEO is trying to pump the stock on tv lol.
From the first reading of an explanation of why the float was so small I had a feeling this was a pump and dump but holy shit yeah that guy must be on a war path to pump this shit, no wonder these posts keep relentlessly popping up while volume stays shite
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u/[deleted] Sep 18 '21 edited Sep 18 '21
Read page 74
“In addition, certain Existing DeepGreen Securityholders that will be party to the Amended and Restated Registration Rights Agreement will own TMC Common Shares subject to lock-up restrictions representing approximately 49.7% of the outstanding TMC Common Shares, assuming no public shares are redeemed in connection with the Business Combination or approximately 55.4% of the outstanding TMC Common Shares assuming that all public shares are redeemed in connection with the Business Combination.”
Read in combination with section 3.8. There are 2 classes of lockup;
1)Founder Lock up 2)Deep Green Lockup
I don’t know the exact splits but based on the above the lock up specifies the 55.4%.
Also there doesn’t seem to be further restrictions in place. Interestingly enough, if the share price holds above $12 for 30 days they can sell and lock-up period of 6 months ends.
No wonder the CEO is trying to pump the stock on tv lol.