secwatch.observer — SEC 8-K summary
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Issuer:     Trio Petroleum Corp (TPET)
CIK:        0001898766
Form:       8-K
Filed at:   2024-04-08T23:59:59+00:00
Accession:  0001493152-24-013410
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trio Petroleum repays convertible notes in full via 8.9M shares at $0.15 floor price
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- Repaid remaining balance of $2.55M in convertible notes (First Tranche $2M, Second Tranche $550k) with 3% premium.
- Issued/pending issuance of 8,926,664 common shares to Investor at floor price of $0.15 per share.
- Notes cancelled, no further obligations; Board cites simplifying capital structure and reducing indebtedness.
- Amendment (April 5, 2024) allowed acceleration of more than six monthly payments on Second Tranche Note.
- Variable rate transaction prohibition now ends December 31, 2024 (previously ran until notes held).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224013410/0001493152-24-013410-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224013410/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-013410

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