Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 29

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 29
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 least $50 million in the aggregate (i) through
the issuance of any debt or equity securities, or (ii) in prepayments under an off-take agreement or similar commercial agreement.

As of March 31, 2025,
the outstanding balance of the Working Capital Loan Agreement with Allseas Investments S.A. was $7.5 million. The Working Capital Loan
Agreement bears interest based on the 6-month Secured Overnight Financing Rate, 180-day average plus a margin of 4.0% per annum (or plus
a margin of 5.0% if all interest payments are deferred to the repayment date) and is repayable on September 30, 2025.

As of the date of this prospectus
supplement, we cannot specify with certainty all of the particular uses for the net proceeds to be received upon the completion of this
offering. Additionally, our management will have broad discretion in the timing and application of these proceeds. Pending application
of the net proceeds as described above, we intend to invest the proceeds of this offering in money market funds, certificates of deposit
and corporate debt securities.

Based on our planned use
of the net proceeds from this offering and our existing cash, cash equivalents and investments, we expect that such funds will be sufficient
to enable us to fund our operations through at least the next 12 months, subject to certain assumptions, including our anticipated cash
needs. We have based this estimate on assumptions that may prove to be incorrect, and we could use our available capital resources sooner
than we currently expect. Our business is capital intensive, and we will be required to raise additional funds in the future to accomplish
our objectives. This additional financing may not be available on acceptable terms or at all. Failure to obtain this necessary capital
when needed may force us to reduce or terminate our operations.

<div align='center'>S-16

DILUTION</div>

If you invest in this offering, your ownership interest will be diluted to the extent of the difference between the offering price
per share and accompanying Class C warrant and the as adjusted net tangible book value (deficit) per share after giving effect to
this offering (excluding the common shares issuable upon exercise of the Class C warrants being offered in this offering and the
payment of the exercise price therefor). We calculate net tangible book value (deficit) per share by dividing the net tangible book
value (deficit), which is tangible assets (consisting of cash, exploration