Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 75

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 75
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We will not be obligated to deliver any Common
Shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement
under the Securities Act with respect to the Common Shares underlying the warrants is then effective and a prospectus relating thereto
is current, subject to our satisfying our obligations described below with respect to registration, or a valid exemption from registration
is available. No warrant will be exercisable and we will not be obligated to issue a Common Share upon exercise of a warrant unless the
Common Share issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the
state of residence of the registered holder of the warrants. In the event that the conditions in the two immediately preceding sentences
are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant
may have no value and expire worthless. In no event will we be required to net cash settle any warrant. In the event that a registration
statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase
price for the unit solely for the Common Share underlying such unit.

Redemptions

Once the warrants become exercisable, we may call the warrants for
redemption:

| ● | in whole and not in part; |

| ● | at a price of $0.01 per warrant; |

| ● | upon not less than 30 days’ prior written notice of redemption 
 to each warrant holder; and                                    |

| ● | if, and only if, the closing price                                                           
 of the Common Shares equals or exceeds $18.00 per share (as adjusted for share splits, share 
 capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days    
 within a 30-trading day period ending on the third trading day prior to the date on which    
 notice of the redemption is given to the warrant holder.                                     |

If and when the warrants become redeemable by
us, we may exercise our redemption right even if we are unable to register or qualify the underlying securities for sale under all applicable
state securities laws.

We have established the last of the redemption
criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant exercise
price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant holder will