secwatch.observer — SEC 8-K summary
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Issuer:     Trio Petroleum Corp (TPET)
CIK:        0001898766
Form:       8-K
Filed at:   2024-09-19T23:59:59+00:00
Accession:  0001493152-24-037034
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trio Petroleum extends maturity dates of convertible promissory notes and amends conversion prices
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- On September 16, 2024, Trio Petroleum entered into amendments with two institutional investors to extend maturity of April 2024 Notes from September 16 to October 16, 2024.
- The amendments set a conversion price floor of $0.15 per share for the April 2024 Notes, based on 5-day average closing price.
- Trio also amended June 2024 Convertible Promissory Notes to change conversion price to 5-day average closing price with a floor of $0.12 per share.
- The institutional investors agreed to forbear from exercising remedies for non-payment on September 16, 2024, under the amendments.
- The April 2024 Notes originated from $720,000 in total financing, with $25,000 repaid in August 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224037034/0001493152-24-037034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1898766/000149315224037034/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-037034

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