---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-000143"
form_type: "8-K"
ticker: "TPET"
cik: "0001898766"
company_name: "Trio Petroleum Corp"
filed_at: "2024-01-02T23:59:59+00:00"
generated_at: "2026-06-07T05:34:18.255223+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Trio Petroleum closes $550K second tranche of financing with reduced conversion price to $0.50

## Summary
- Second tranche closed Jan 2, 2024; gross proceeds $511,500, net proceeds $420,522 after fees.
- Conversion price and warrant exercise price reduced from $1.20 to $0.50 per share.
- Issued $550K convertible note and warrant to purchase 445,561 shares of common stock.
- Spartan Capital received 7.5% cash fee and a placement agent warrant for 55,000 shares at $0.55.
- Amendment includes $10,000 reimbursement for investor legal fees and no Event of Default.

## SEC filing metadata
- accession: 0001493152-24-000143
- form_type: 8-K
- ticker: TPET
- cik: 0001898766
- company_name: Trio Petroleum Corp
- filed_at: 2024-01-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1898766/000149315224000143/0001493152-24-000143-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1898766/000149315224000143/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-000143
- JSON: https://secwatch.observer/filing/0001493152-24-000143.json
- Plain text: https://secwatch.observer/filing/0001493152-24-000143.txt

## Key facts
- Material Agreements
  Trio Petroleum Corp entered into Placement Agent Agreement with Spartan Capital Securities LLC valued at Cash fee of 7.5% of gross proceeds from Second Tranche; issuance of Placement Agent Warrant to purch (effective 2024-01-02).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Spartan Capital Securities LLC
  - Value: Cash fee of 7.5% of gross proceeds from Second Tranche; issuance of Placement Agent Warrant to purch
  - Effective: 2024-01-02
  source text: The Placement Agent, pursuant to a placement agent agreement (the “Placement Agent Agreement”), served as the exclusive placement agent in connection with the closing of the private placement with the Investor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1898766/000149315224000143/0001493152-24-000143-index.htm

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