{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-013785","form_type":"8-K","ticker":"TPET","cik":"0001898766","company_name":"Trio Petroleum Corp","filed_at":"2024-04-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.138259+00:00","generated_at":"2026-06-04T01:34:06.127603+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Trio Petroleum raises $184,500 gross via 12% unsecured note; net $164,500","bullets":["Principal note $211,500 includes $27,000 original issue discount (~13% OID); maturity Jan 30, 2025.","Five installment payments from Sep 30, 2024 to Jan 30, 2025; first payment $118,440.","Interest at 12% p.a.; upon default, note accelerates to 150% of amount due with 22% default rate.","Conversion rights on default at greater of 25% market price or floor of $0.07117 per share; capped at 19.99% of outstanding shares.","Proceeds used for general working capital; placement agent fees of $10,500 and buyer expenses of $9,500."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-013785","json":"https://secwatch.observer/filing/0001493152-24-013785.json","markdown":"https://secwatch.observer/filing/0001493152-24-013785.md","text":"https://secwatch.observer/filing/0001493152-24-013785.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1898766/000149315224013785/0001493152-24-013785-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1898766/000149315224013785/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T01:34:06.127603+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6c0ce7c30063ff5e1000426df8b7838eeadcdecc","claim":"Trio Petroleum Corp entered into Securities Purchase Agreement with institutional investor valued at $184,500 (effective 2024-03-27).","evidence_excerpt":"Trio Petroleum Corp., a Delaware corporation (the “Company”) executed a Securities Purchase Agreement, dated March 27, 2024 (the “SPA”) with an institutional investor (the “Investor”), which the Investor signed and funded on April 5, 2024, and pursuant to which the Company raised gross proceeds of $184,500","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1898766/000149315224013785/0001493152-24-013785-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"institutional investor"},{"label":"Value","value":"$184,500"},{"label":"Effective","value":"2024-03-27"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}