Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 145

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 145
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 deemed a share dividend of a number of Common Shares equal to the product of (i) the number of Common
Shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible
into or exercisable for Common Shares) and (ii) one minus the quotient of (x) the price per Common Shares paid in such rights
offering and (y) the historical fair market value. For these purposes, (i) if the rights offering is for securities convertible
into or exercisable for Class A ordinary shares, in determining the price payable for Common Shares, there will be taken into account
any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “historical
fair market value” means the volume weighted average price of Common Shares as reported during the 10 trading day period ending
on the trading day prior to the first date on which the Common Shares trade on the applicable exchange or in the applicable market, regular
way, without the right to receive such rights.

In addition, if we, at any time while the warrants
are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to all or substantially all the
holders of Common Shares on account of such shares (or other securities into which the warrants are convertible), other than (a) as
described above, (b) any cash dividends or cash distributions which, when combined on a per share basis with all other cash dividends
and cash distributions paid on the Common Shares during the 365-day period ending on the date of declaration of such dividend or distribution
does not exceed $0.50 (as adjusted to appropriately reflect any other adjustments and excluding cash dividends or cash distributions that
resulted in an adjustment to the exercise price or to the number of Common Shares issuable on exercise of each warrant) but only with
respect to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50 per share, or (c) to satisfy
the redemption rights of the holders of Common Shares in connection with the Business Combination, then the warrant exercise price will
be decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any
securities or other assets paid on each share of Common Shares in respect of such event.

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If the number of outstanding Common Shares is
decre