Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 149

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 149
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 Securities Act is effective and available for the issuance of such shares, or an exemption
from registration under the Securities Act is available for the issuance of such shares, by payment in full in immediately available funds
for the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common shares
underlying the Class A warrants under the Securities Act is not then effective or available, the holder may only exercise the Class A
warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined
according to the formula set forth in the Class A warrant. No fractional shares will be issued in connection with the exercise of
a Class A warrant. In lieu of fractional shares, we will round down to the next whole share.

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Exercise Limitation

A holder will not have the right to exercise any
portion of the Class A warrant if the holder (together with its affiliates) would beneficially own in excess of 4.99% (or 9.99% or
19.99% at the election of a holder prior to the date of issuance) of the number of common shares outstanding immediately after giving
effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Class A warrants. However,
any holder may increase or decrease such percentage to any other percentage not in excess of 9.99% (or 19.99% with prior written approval
of the Company) upon at least 61 days’ prior notice from the holder to us.

Exercise Price; Adjustment

The initial exercise price per common share purchasable
upon exercise of the Class A warrants is $3.00 per common share, subject to adjustment for reverse and forward stock splits, stock
dividends, stock combinations and other similar transactions of the common shares. The exercise price is subject to appropriate adjustment
in the event of certain stock dividends and distributions, stock splits, stock combinations, reclassifications or similar events affecting
our common shares and also upon any distributions of assets, including cash, shares or other property to our shareholders.

Transferability/Warrant Agent

Subject to applicable laws, the Class A warrants
may be offered for sale, sold, transferred or assigned without our consent. There is currently no trading market for the Class A
warrants and a trading market is not expected to develop. The Company will initially act as warrant agent for the Class A warrants.

Trading Market