Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 21

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 21
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 issuances could occur, following
this offering could cause the market price of our common shares to decline significantly. A substantial majority of the outstanding common
shares are, and the common shares sold in this offering upon issuance will be, freely tradable without restriction or further registration
under the Securities Act of 1933, as amended, or the Securities Act.

<div align='center'>S-9</div>

We have broad discretion to determine how to use the funds raised in this offering, and may use them in ways that may not enhance our operating results or the price of our common shares.

Our management will have
broad discretion over the use of proceeds from this offering, and we could spend the proceeds from this offering in ways our shareholders
may not agree with or that do not yield a favorable return, if at all. We intend to use the net proceeds from this offering for working
capital and general corporate purposes and to repay in whole or in part the outstanding balance of the 2024 Credit Facility and the Working
Capital Loan Agreement. See “Use of Proceeds” beginning on page S-16 of this prospectus supplement for additional detail.
However, our use of these proceeds may differ substantially from our current plans. If we do not invest or apply the proceeds from this
offering in ways that improve our operating results, we may fail to achieve expected financial results, which could cause our share price
to decline.

We do not expect to pay dividends in the foreseeable future. As a result, you must rely on capital appreciation, if any, for any return on your investment.

We do not anticipate paying
cash dividends on our common shares in the foreseeable future. Any payment of cash dividends would also depend on a number of factors,
including our financial condition, liquidity, results of operations, capital requirements, prospects and other factors, and will be at
the discretion of our board of directors. Accordingly, you will have to rely on capital appreciation, if any, to earn a return on your
investment in our common shares.

There is no public market for the Class C warrants to purchase common shares being offered in this offering.

There is no established public
trading market for the Class C warrants being offered in this offering, and we do not expect a market to develop. In addition, we do not
intend to apply to list the Class C warrants on any national securities exchange or other nationally recognized trading system, including
Nasdaq. Without an active market, the liquidity of the Class C warrants will be