Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 33

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 33
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 C warrant through a cashless exercise, in which
case the holder would receive upon such exercise the net number of common shares determined according to the formula set forth in the
Class C warrant. No fractional shares will be issued in connection with the exercise of a Class C warrant. In lieu of fractional shares,
we will round down to the next whole share.

Exercise Limitation. A holder will not have the right to exercise any portion of the Class C warrant if the holder (together with its affiliates)
would beneficially own in excess of 4.99%, 9.99% or 19.99%, at the election of a holder, of the number of common shares outstanding immediately
after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Class C warrants.
However, any holder may increase or decrease such percentage to any other percentage not in excess of 9.99% (or 19.99% with prior written
approval of the Company) upon at least 61 days’ prior notice from the holder to us.

Exercise Price; Adjustment. The initial exercise price per common share purchasable upon exercise of the Class C warrants is $4.50
per share, subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions
of the common shares. The exercise price is subject to appropriate adjustment in the event of certain stock dividends and distributions,
stock splits, stock combinations, reclassifications or similar events affecting our common shares and also upon any distributions of
assets, including cash, shares or other property to our shareholders.

Transferability/Warrant Agent. Subject to applicable laws, the Class C warrants may be offered for sale, sold, transferred or assigned without our consent.
There is currently no trading market for the Class C warrants and a trading market is not expected to develop. The Company will initially
act as warrant agent for the Class C warrants.

Trading Market. We do not plan on making the Class C 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 C 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 C warrants will be entitled to
receive upon exercise of the Class