Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 22

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 22
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 limited.

Holders of our Class C warrants will have no rights as a common shareholder until they acquire our common shares.

Until you acquire our common shares upon exercise of the Class C warrants,
you will have no rights with respect to our common shares issuable upon exercise of the Class C warrants. Upon exercise of your Class
C warrants, you will be entitled to exercise the rights of a common shareholder only as to matters for which the record date occurs after
the exercise date.

The Class C warrants are speculative in nature.

The Class C warrants offered hereby do not confer any rights of common
share ownership on their holders, such as voting rights or the right to receive dividends, but rather merely represent the right to acquire
common shares at a fixed price. Specifically, commencing on the date of issuance, holders of the Class C warrants may acquire the common
shares issuable upon exercise of such Class C warrants at an exercise price of $4.50 per share. Moreover, following this offering, the
market value of the Class C warrants is uncertain and there can be no assurance that the market value of the Class C warrants will equal
or exceed their offering price. There can be no assurance that the market price of the common shares will ever equal or exceed the exercise
price of the Class C warrants and consequently, whether it will ever be profitable for holders of the Class C warrants to exercise the
Class C warrants.

The Class C warrants may not have any value.

In the event the price of our common shares does not exceed the exercise
price for the Class C warrants during the period when the Class C warrants are exercisable, the Class C warrants may not have any value.

<div align='center'>S-10

CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS</div>

This prospectus
supplement, the accompanying base prospectuses and the documents incorporated by reference include forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, or
the Exchange Act, that relate to future events or our future financial performance and involve known and unknown risks,
uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ
materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking
statements. Words such as, but not limited to, “believe,” “expect,” “anticipate,”
“estimate,”