---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-004949"
form_type: "8-K"
ticker: "TPET"
cik: "0001898766"
company_name: "Trio Petroleum Corp"
filed_at: "2024-02-05T23:59:59+00:00"
generated_at: "2026-06-06T09:24:50.797238+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Trio Petroleum reduces convertible note floor price to $0.15, issues 2.4M shares to offset cash obligation

## Summary
- Floor Price on First Tranche Note lowered from $0.35 to $0.15; remaining principal balance $1M.
- Issued 2,395,611 shares to Investor in lieu of paying $616,468 in cash for conversion obligations.
- Monthly $250,000 installment payments may be accelerated, subject to mutual consent and 4.99% beneficial ownership limit.
- Note matures April 4, 2025, carries no interest; first tranche originally funded $1.86M in October 2023.

## SEC filing metadata
- accession: 0001493152-24-004949
- form_type: 8-K
- ticker: TPET
- cik: 0001898766
- company_name: Trio Petroleum Corp
- filed_at: 2024-02-05T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1898766/000149315224004949/0001493152-24-004949-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1898766/000149315224004949/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-004949
- JSON: https://secwatch.observer/filing/0001493152-24-004949.json
- Plain text: https://secwatch.observer/filing/0001493152-24-004949.txt

## Key facts
- Material Agreements
  Trio Petroleum Corp amended First Tranche Amendment with an institutional investor (effective 2024-02-05).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: an institutional investor
  - Effective: 2024-02-05
  source text: On February 5, 2024, in order to expedite the payment of the First Tranche Note, the Company and the Investor entered into a letter agreement amending the First Tranche Note (the “First Tranche Amendment”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1898766/000149315224004949/0001493152-24-004949-index.htm

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