---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-030287"
form_type: "8-K"
ticker: "TPET"
cik: "0001898766"
company_name: "Trio Petroleum Corp"
filed_at: "2024-08-05T23:59:59+00:00"
generated_at: "2026-05-31T13:14:38.964657+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Trio Petroleum raises $134K via 12% OID note; conversion at 75% of market

## Summary
- Gross proceeds $134K; net $110,625 after offering expenses; principal $152K with $18K OID.
- Note matures May 30, 2025; five equal payments starting Jan 30, 2025; interest 12% per annum.
- Upon default, note converts at 75% of market price (floor $0.18); 19.99% cap on conversion shares.
- Prior investors waived participation rights in exchange for conversion rights and payment priority.
- Proceeds for working capital; Spartan Capital received $9,375 placement fee.

## SEC filing metadata
- accession: 0001493152-24-030287
- form_type: 8-K
- ticker: TPET
- cik: 0001898766
- company_name: Trio Petroleum Corp
- filed_at: 2024-08-05T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1898766/000149315224030287/0001493152-24-030287-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1898766/000149315224030287/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-030287
- JSON: https://secwatch.observer/filing/0001493152-24-030287.json
- Plain text: https://secwatch.observer/filing/0001493152-24-030287.txt

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