Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 142

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 142
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 2023, there were
an aggregate of 15,000,000 outstanding public warrants held of record by one holder, which entitle the holder to acquire Common Shares.
Each whole public warrant entitles the registered holder to purchase one Common Share at an exercise price of $11.50 per share, subject
to adjustment as discussed below, beginning on October 9, 2021. Pursuant to the warrant agreement, a warrant holder may exercise
its warrants only for a whole number of Common Shares. This means only a whole warrant may be exercised at a given time by a warrant holder.
No fractional warrants will be issued upon separation of the units, and only whole warrants will trade. Accordingly, unless you hold at
least three units, you will not be able to receive or trade a whole warrant. The warrants will expire on September 9, 2026, at 5:00
p.m., New York City time, or earlier upon redemption or liquidation.

We will not be obligated to deliver any Common
Shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement
under the Securities Act with respect to the Common Shares underlying the warrants is then effective and a prospectus relating thereto
is current, subject to our satisfying our obligations described below with respect to registration, or a valid exemption from registration
is available. No warrant will be exercisable and we will not be obligated to issue a Common Share upon exercise of a warrant unless the
Common Share issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the
state of residence of the registered holder of the warrants. In the event that the conditions in the two immediately preceding sentences
are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant
may have no value and expire worthless. In no event will we be required to net cash settle any warrant. In the event that a registration
statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase
price for the unit solely for the Common Share underlying such unit.

Redemptions

Once the warrants become exercisable, we may call the warrants for
redemption:

| · | in whole and not in part; |

| · | at a price of $0.01 per warrant; |

| · | upon not less than 30 days’ prior written notice of redemption