Company: TPET
Filing Date: 2025-04-28
Form Type: S-3
Source: 0001641172-25-006503
Chunk: 28

Company: Trio Petroleum Corp.
Filing Date: 2025-04-28
Form: S-3
Chunk 28
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 within the past three years.

Jutland Investments LLC (“Jutland”), in April 2024, provided senior secured convertible debt financing to TPET in the amount of $360,000, in connection with which TPET also issued to Jutland 750,000 shares of common stock. In June 2024, Jutland provided additional convertible debt financing to TPET in the amount of $360,000, in connection with which TPET issued Jutland a common stock purchase warrant to purchase up to 744,602 shares of common stock, at an initial exercise price of $7.90 per share, subject to adjustment. Jutland also has the right to participate in future financings of TPET, together with the other investors in the April 2024 and June 2024 financings, up to an aggregate of 100% of any debt financing and up to 45% of any other type of financing. This right of participation continues until December 27, 2025.

TPET acquired a portion of the Novacor Assets, and will required the remaining Novacor Assets as described elsewhere in this prospectus. In connection with such acquisition, Novacor will serve as the operator of the Novacor Assets, until otherwise agreed to by TPET and Novacor.

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<div align='center'>DESCRIPTION OF CAPITAL STOCK</div>

The following description summarizes important terms of our capital stock and certain provisions of our amended and restated certificate of incorporation and amended and restated bylaws.

General

Our authorized capital stock consists of 490,000,000 shares of common stock, par value $0.0001 per share and 10,000,000 shares of preferred stock, par value $0.0001 per share. As of April 25, 2025, there were 7,498,855 shares of our common stock, held by approximately 30 stockholders of record. No shares of our preferred stock are designated, issued or outstanding.

Common Stock

As of April 25, 2025, there were 7,498,855 shares of common stock outstanding. Each outstanding share of common stock entitles the holder thereof to one vote per share on all matters. Our Restated Bylaws provide that any vacancy occurring in the Board of Directors may be filled by the affirmative vote of a majority of the remaining directors. Holders of our common stock do not have preemptive rights to purchase shares in any future issuance of our common stock