secwatch.observer — SEC 8-K summary
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Issuer:     Trio Petroleum Corp (TPET)
CIK:        0001898766
Form:       8-K
Filed at:   2025-08-18T23:59:59+00:00
Accession:  0001493152-25-012110
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trio Petroleum Corp closes $1.2M convertible note financing
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- Issued three unsecured convertible notes with aggregate principal of $1.2M to institutional investors; net proceeds $928,600 after fees.
- Notes mature February 15, 2026; conversion price lesser of $1.32 or 90% of 5-day VWAP, floor $0.72 (subject to reduction to $0.22).
- Maximum shares issuable upon conversion capped at 1,679,127 (19.99% of outstanding).
- Registration rights agreement requires filing within 20 trading days, effectiveness within 60 days; 1% monthly liquidated damages for delays.
- Company cannot enter into variable rate transactions or certain equity-linked securities without majority consent until notes repaid/converted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1898766/000149315225012110/0001493152-25-012110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1898766/000149315225012110/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-012110

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