Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 150

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 150
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We do not plan on making the Class A warrants
eligible to trade on any national securities exchange or any other nationally recognized trading system or market.

Fundamental Transactions

In the event of a fundamental transaction, as
described in the Class A warrants and generally including any reorganization, recapitalization or reclassification of our common
shares, the sale, transfer or other disposition of all or substantially all of our properties or assets, our consolidation or merger with
or into another person, the holders of the Class A warrants will be entitled to receive upon exercise of the Class A warrants
the kind and amount of securities, cash or other property that the holders would have received had they exercised the Class A warrants
immediately prior to such fundamental transaction.

Call Provision

Subject to the terms of the Class A warrants,
if (i) the volume weighted average price for each of 30 consecutive trading days exceeds $6.50 (subject to adjustment for forward
and reverse stock splits, recapitalizations, stock dividends) and (ii) the holder of the Class A warrant is not in possession
of any information that constitutes, or might constitute, material non-public information which was provided by the Company, then the
Company may, within one trading day of the end of such 30-day period, call for cancellation of all or any portion of the Class A
warrants for which a notice of exercise has not yet been delivered for consideration equal to $0.0001 per warrant share.

Exercise Price Adjustment for Certain Share Issuances

Subject to customary exceptions set forth in the
Class A warrants, from the original issue date of the Class A warrant until December 31, 2024, if the Company or any subsidiary
thereof, as applicable, at any time while the Class A warrant is outstanding, shall sell or grant any option to purchase, or sell
or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other
disposition) any common shares or common share equivalents, at an effective price per share less than the lower of (i) $2.00 (subject
to adjustment for forward and reverse share splits, recapitalizations, share dividends and the like), and (ii) the exercise then
in effect (such lower price, the “Base Share Price” and such issuances collectively, a “Dilutive Issuance”), then
simultaneously with the consummation of each Dilutive Iss