secwatch.observer — SEC 8-K summary
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Issuer:     Trio Petroleum Corp (TPET)
CIK:        0001898766
Form:       8-K
Filed at:   2024-06-28T23:59:59+00:00
Accession:  0001493152-24-025629
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trio Petroleum raises $720K via convertible notes and warrants
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- Issued $800K principal Senior Secured Convertible Notes at 10% OID to two institutional investors for $720K net proceeds.
- Warrants to purchase up to 1.49M shares of common stock at $0.39525 per share issued alongside Notes.
- Notes mature June 27, 2025; convertible at $0.39525 per share with a floor price of $0.12; no interest unless default.
- Company granted senior security interest in all assets; monthly installments start 90 days after issuance at 103% of principal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224025629/0001493152-24-025629-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224025629/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-025629

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