Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 151

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 151
---
uance the exercise price shall be reduced to equal the Base Share Price.

<div align='center'>27</div>

Rights as a Shareholder

Except as otherwise provided in the Class A
warrants or by virtue of such holder’s ownership of common shares, the holder of a Class A 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 A warrant.

Governing Law

The Class A warrants are governed by New
York law.

<div align='center'>28

DESCRIPTION OF UNITS</div>

The following description,
together with the additional information we may include in any applicable prospectus supplements, summarizes the material terms and provisions
of the units that we may offer under this prospectus. While the terms summarized below will apply generally to any units that we may offer,
we will describe the particular terms of any series of units in more detail in the applicable prospectus supplement. If we indicate in
the prospectus supplement, the terms of any units offered under that prospectus supplement may differ from the terms described below.
Specific unit agreements will contain additional important terms and provisions and will be incorporated by reference as an exhibit to
the registration statement that includes this prospectus.

General

We may issue units consisting
of debt securities, common shares, preferred shares, or warrants, for the purchase of common shares and/or preferred shares in one or
more series, in any combination. Each unit will be issued so that the holder of the unit is also the holder of each security included
in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement
under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately, at any time
or at any time before a specified date.

We will describe in the applicable prospectus
supplement the terms of the series of units being offered, including:

| · | the designation and terms of the units and of the securities comprising the units, including whether and under what circumstances 
 those securities may be held or transferred separately;                                                                           |

| · | any provisions of the governing unit agreement that differ from those described below; |

| · | the governing law of the unit agreement; and |

| · | any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units. |

We may issue units in such amounts and in