Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 38

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 38
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 Canada.

In accordance with Rule 412
of the Securities Act, any statement contained in a document incorporated by reference herein shall be deemed modified or superseded to
the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated
by reference herein modifies or supersedes such statement.

<div align='center'>S-22</div>

Filed
Pursuant to Rule 424(b)(3)

Registration No. 333-267479

PROSPECTUS

<div align='center'>TMC THE METALS COMPANY INC.

$100 MILLION OF

COMMON SHARES

PREFERRED SHARES

DEBT SECURITIES

WARRANTS

UNITS

AND

38,266,180 COMMON SHARES

OFFERED BY SELLING SHAREHOLDERS</div>

We may offer and sell securities from time to
time in one or more offerings of up to $100 million in aggregate offering price. This prospectus describes the general terms of these
securities and the general manner in which these securities will be offered by us. We will provide you with the specific terms of any
offering in one or more supplements to this prospectus. The prospectus supplements will also describe the specific manner in which these
securities will be offered and may also supplement, update or amend information contained in this document. You should read this prospectus
and any prospectus supplement, as well as any documents incorporated by reference into this prospectus or any prospectus supplement,
carefully before you invest.

In addition, the selling shareholders identified
in this prospectus may from time to time sell up to 38,266,180 of our common shares, without par value, or the Common Shares. We will
not receive any proceeds from the sale, if any, of Common Shares by the selling shareholders. Unless otherwise set forth in a prospectus
supplement, if required, the selling shareholders will pay any underwriting discounts and commissions and transfer taxes incurred by
the selling shareholders in disposing of the Common Shares.

Our securities may be sold directly by us to
you, through agents designated from time to time or to or through underwriters or dealers. For additional information on the methods
of sale, you should refer to the section entitled “Plan of Distribution” in this prospectus and in the applicable prospectus
supplement. If any underwriters or agents are involved in the sale of our securities with respect to which this prospectus is being delivered,
the names of such