Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 65

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 65
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 other information on which we base our decisions on how to use the proceeds.

Pending these uses, we intend to invest the funds in short-term, investment grade, interest-bearing securities. It is possible that, pending their use, we may invest the net proceeds in a way that does not yield a favorable, or any, return for us.

Each $0.01 increase (decrease) in the assumed public offering price of $1.36 per share, which was the reported closing price of our common stock on the NYSE American, on February 24, 2025, would increase (decrease) the net proceeds to us from this offering, after deducting placement agent fees and estimated offering expenses payable by us, by approximately $0.1 million, 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. Similarly, each increase (decrease) of 1,000,000 Shares and/or Pre-Funded Warrants offered by us at the assumed public offering price of $1.36 per share, which was the reported closing price of our common stock on the NYSE American, on February 24, 2025, would increase (decrease) the net proceeds to us from this offering, after deducting placement agent fees and estimated offering expenses payable by us, by approximately $1.3 million, assuming that the assumed public offering price of $1.36 per share, which was the reported closing price of our common stock on the NYSE American, on February 24, 2025, stays the same.

| 37 |

<div align='center'>CAPITALIZATION</div>

The following table sets forth our cash and capitalization
as of October 31, 2024, as follows:

| ● | on an actual basis;                                                                                                                  |
| ● | on a pro forma basis to give effect to the                                                                                           
 receipt, after October 31, 2024, of (a) an ATM agreement, resulting in net proceeds of $3,475,650 to the Company, from the issuance  
 of shares of common stock, after October 31, 2024, (b) payments, after October 31, 2024, toward (i)                                  
 the March 2024 Note in the aggregate amount of $88,830, (ii) the June 2024 Notes in the aggregate amounts of $350,847 in cash and    
 $299,