Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 34

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 34
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 C warrants the kind and amount of securities, cash or other property that the holders would have received
had they exercised the Class C warrants immediately prior to such fundamental transaction.

Call Provision. Subject to the terms of the Class C warrants, if (i) the volume weighted average price for each of 20 consecutive
trading days exceeds $7.00 per share (subject to adjustment for forward and reverse stock splits, recapitalizations, stock
dividends) and (ii) the holder of the Class C 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
20-day period, call for cancellation of all or any portion of the Class C warrants for which a notice of exercise has not yet been
delivered for consideration equal to $0.0001 per warrant share.

Rights as a Shareholder. Except as otherwise provided in the Class C warrants or by virtue of such holder’s ownership of common shares,
the holder of a Class C warrant does not have the rights or privileges of a holder of our common share, including any voting rights,
until the holder exercises the Class C warrant.

Governing Law. The Class C warrants are governed by New York law.

<div align='center'>S-19

PLAN OF DISTRIBUTION</div>

We
will enter into a securities purchase agreement directly with the investors who have agreed to purchase our securities in this
offering. The securities purchase agreement will contain customary representations, warranties and covenants. We will only sell
securities in this offering to such investors. This offering is being made by us without an underwriter or a placement agent.

We
will deliver the securities being issued to the investors in this offering upon receipt of investor funds for the purchase of the
securities offered pursuant to this prospectus supplement. We expect to deliver the common shares and Class C warrants being offered
pursuant to this prospectus supplement on or before May 22, 2025. The securities purchase agreement may be terminated by us as to
any investor's obligations thereunder if the closing with respect to such investor has not been consummated on or before June 30, 2025.

The terms of this offering were subject to market conditions and negotiations between
us and prospective investors. The factors considered in determining the price of the common shares and the Class C warrants included the
recent market price of our common shares, the