---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-035638"
form_type: "8-K"
ticker: "TPET"
cik: "0001898766"
company_name: "Trio Petroleum Corp"
filed_at: "2023-10-04T23:59:59+00:00"
generated_at: "2026-06-10T05:02:11.499469+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Trio Petroleum issues $2M convertible note as part of up to $3.5M financing

## Summary
- Issued $2M senior secured convertible note (principal) with conversion price of $1.20 (floor $0.35) and warrants for 866,702 shares at $1.20.
- First tranche funded $1.86M (net of 7% OID and fees); second tranche of $1.05M subject to stockholder approval and SEC registration.
- Granted security interest in all assets, including California oil and gas interests via deed of trust.
- Placement agent Spartan Capital received 7.5% cash fee and warrants for 83,333 shares at $1.32.
- Stockholders representing 4.025M shares agreed to vote for approval of the issuance; company subject to 180-day lockup.

## SEC filing metadata
- accession: 0001493152-23-035638
- form_type: 8-K
- ticker: TPET
- cik: 0001898766
- company_name: Trio Petroleum Corp
- filed_at: 2023-10-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1898766/000149315223035638/0001493152-23-035638-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1898766/000149315223035638/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-035638
- JSON: https://secwatch.observer/filing/0001493152-23-035638.json
- Plain text: https://secwatch.observer/filing/0001493152-23-035638.txt

## Key facts
- Material Agreements
  Trio Petroleum Corp entered into Securities Purchase Agreement with an institutional investor valued at up to $3.5 million (effective 2023-10-04).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: an institutional investor
  - Value: up to $3.5 million
  - Effective: 2023-10-04
  source text: On October 4, 2023, Trio Petroleum Corp. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an institutional investor (the “Investor”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1898766/000149315223035638/0001493152-23-035638-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.