Company: TPET
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001493152-25-005014
Chunk: 65

Company: Trio Petroleum Corp.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 65
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| Dilution per share to new investors purchasing common stock in this offering    |     |   |       |   |     | $ | (0.04 | ) |

The dilution information discussed
above is illustrative only and may change based on the actual public offering price and other terms of this offering.

A $0.01 decrease in the assumed
public offering price of $1.58 per share, which was the reported closing price of our common stock on the NYSE American on
January 24, 2025, would decrease our pro forma as adjusted net tangible book value as of October 31, 2024, giving effect to
this offering, by approximately $0.1 million and reflect a nominal decrease in the value per share, and would decrease
dilution to investors in this offering by a nominal amount per share, assuming that the number of Shares and/or Pre-Funded Warrants
offered by us, as set forth on the cover page of this prospectus, remains the same, after deducting the estimated placement agent
fees and estimated offering expenses payable by us. A $0.01 increase in the assumed public offering price of $1.58
per share, which was the reported closing price of our common stock on the NYSE American on January 24, 2025, would increase our
pro forma as adjusted net tangible book value as of October 31, 2024, giving effect to this offering by approximately $0.1
million and reflect a nominal increase in the value per share, and would increase dilution to investors in this offering,
by a nominal amount per share, assuming that the number of Shares and/or Pre-Funded Warrants offered by us, as set forth on
the cover page of this prospectus, remains the same, after deducting the estimated placement agent fees and estimated offering
expenses payable by us. We may also increase or decrease the number of Shares and/or Pre-Funded Warrants we are offering. An increase
of 1,000,000 Shares and/or Pre-Funded Warrants we are offering would increase our pro forma as adjusted net tangible book value as of
October 31, 2024, giving effect to this offering, by approximately $1.5 million and reflect a nominal increase in
the value per share, and would decrease dilution to investors in this offering by a nominal amount per share, assuming
the assumed public offering price per shares remains the same, after