secwatch.observer — SEC 8-K summary
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Issuer:     Trio Petroleum Corp (TPET)
CIK:        0001898766
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0001493152-24-014977
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224014977/0001493152-24-014977-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224014977/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-014977

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