---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-014977"
form_type: "8-K"
ticker: "TPET"
cik: "0001898766"
company_name: "Trio Petroleum Corp"
filed_at: "2024-04-17T23:59:59+00:00"
generated_at: "2026-06-03T21:53:01.547717+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Trio Petroleum raises $360K net $310K via convertible note with 10% OID, 750K commitment shares

## Summary
- $360K gross proceeds from senior secured convertible note; net ~$310K after expenses.
- Note principal $400K with 10% OID ($40K), convertible at $0.25/share, maturing Aug 16, 2024.
- Issued 750K commitment shares as origination fee; piggy-back registration rights granted.
- Note secured by all company assets; prepayment required from any $1M+ financing.
- Proceeds used for working capital and general corporate purposes.

## SEC filing metadata
- accession: 0001493152-24-014977
- form_type: 8-K
- ticker: TPET
- cik: 0001898766
- company_name: Trio Petroleum Corp
- filed_at: 2024-04-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1898766/000149315224014977/0001493152-24-014977-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1898766/000149315224014977/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-014977
- JSON: https://secwatch.observer/filing/0001493152-24-014977.json
- Plain text: https://secwatch.observer/filing/0001493152-24-014977.txt

## Key facts
- Material Agreements
  Trio Petroleum Corp entered into SPA with an institutional investor valued at $360,000 (effective 2024-04-16).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: an institutional investor
  - Value: $360,000
  - Effective: 2024-04-16
  source text: On April 16, 2024, Trio Petroleum Corp., a Delaware corporation (the “Company”), entered into a securities purchase agreement (the “SPA”) with an institutional investor (the “Investor”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1898766/000149315224014977/0001493152-24-014977-index.htm
- Material Agreements
  Trio Petroleum Corp entered into Security Agreement with an institutional investor (effective 2024-04-16).
  - Action: entry
  - Counterparty: an institutional investor
  - Effective: 2024-04-16
  source text: To secure the obligations of the Company to repay the Investor Note, the Company has granted to the Investor a senior security interest in and to all of the Company’s assets and properties, subject to certain exceptions, as set forth in that certain Security Agreement, dated April 16, 2024, between the Company and the Investor (the “Security Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1898766/000149315224014977/0001493152-24-014977-index.htm
- Material Agreements
  Trio Petroleum Corp entered into Investor Note with an institutional investor valued at $400,000 (effective 2024-04-16).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: an institutional investor
  - Value: $400,000
  - Effective: 2024-04-16
  source text: In connection with the Financing, the Company issued a Senior Secured Convertible Promissory Note to the Investor in the principal amount of $400,000, having an original issue discount of $40,000, or 10% (the “Investor Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1898766/000149315224014977/0001493152-24-014977-index.htm

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