Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 62

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 62
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 Transfer. Notwithstanding the foregoing, any holder of Special Shares may, at
any time, provide an irrevocable direction and agreement in favor of us that a proposed transfer shall be deemed not to be a Permitted
Transfer and that irrevocable direction may provide that any other Permitted Transfer shall require that the transferee provide an identical
type of irrevocable direction and agreement.

Subject to the provisions of the BCBCA, any Special
Shares then outstanding shall be redeemed by us without any action on the part of the holders of Special Shares (i) at any time
after the 15th year anniversary of the original issue date of the Special Shares or (ii) at any time after a Change of Control,
in each case at the Redemption Price. For the purposes of our notice of articles and articles, “Change of Control” shall
mean any transaction or series of related transactions (x) under which any person or one or more persons that are affiliates or
that are acting as a “group” (as defined in Section 13(d)(3) of the Exchange Act), directly or indirectly, acquires
or otherwise purchases (i) the Company or (ii) all or a material portion of assets, businesses or our Equity Securities (as
defined below) or (y) that results, directly or indirectly, in our shareholders as of immediately prior to such transaction holding,
in the aggregate, less than 50% of the voting Equity Securities immediately after the consummation thereof (excluding, for the avoidance
of doubt, any Special Shares and the Common Shares issuable upon conversion thereof) (in the case of each of clause (x) and (y),
whether by amalgamation, merger, consolidation, arrangement, tender offer, recapitalization, purchase or issuance of Equity Securities
or otherwise), and “Equity Securities” shall refer to Common Shares, the preferred shares, Special Shares or any other class
of shares or series thereof in our capital or similar interest us (including any stock appreciation, phantom stock, profit participation
or similar rights), and any option, warrant, right or security (including debt securities) convertible, exchangeable or exercisable therefor.

The Special Shares will automatically convert
into Common Shares on a one (1) for one (1) basis (unless adjusted as described below) upon the occurrence of the following
events:

| ● | in                                                                                             
 the case of the Class A Special Shares, if (a) on any twenty (20)