secwatch.observer — SEC 8-K summary
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Issuer:     Trio Petroleum Corp (TPET)
CIK:        0001898766
Form:       8-K
Filed at:   2024-01-02T23:59:59+00:00
Accession:  0001493152-24-000143
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224000143/0001493152-24-000143-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224000143/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-000143

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