secwatch.observer — SEC 8-K summary
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Issuer:     Trio Petroleum Corp (TPET)
CIK:        0001898766
Form:       8-K
Filed at:   2025-01-29T23:59:59+00:00
Accession:  0001493152-25-004154
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trio Petroleum amends note terms and agrees to exchange $285,852 debt for common stock at 25% discount
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- Amendment No.1 extends $285,852 note payments: $142,926 due Feb 28 instead of Jan 30; five monthly payments through June 30, 2025.
- Note Exchange Agreement converts outstanding $285,852 into common stock on Feb 10, 2025 at 75% of lowest closing price in prior 10 trading days.
- Conversion capped at 19.99% of outstanding shares; any excess balance to be reissued as a new promissory note with same terms.
- Exchange is exempt from registration under Section 3(a)(9) of Securities Act; no commission paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1898766/000149315225004154/0001493152-25-004154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1898766/000149315225004154/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-004154

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