Company: TPET
Filing Date: 2025-09-04
Form Type: S-3
Source: 0001493152-25-012641
Chunk: 24

Company: Trio Petroleum Corp.
Filing Date: 2025-09-04
Form: S-3
Chunk 24
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ET in the amount of $360,000, in connection with which TPET issued L1 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. L1 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.

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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 150,000,000 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 September 2, 2025, there were 8,440,849 shares of our common stock, held by approximately 32 stockholders of record. No shares of our preferred stock are designated, issued or outstanding.

Common Stock

As of September 2, 2025, there were 8,440,849 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. In the event of our liquidation, dissolution or winding up, holders of our common stock are entitled to receive, ratably, the net assets available to stockholders after payment of all creditors.

Holders of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders, and do not have cumulative voting rights. Accordingly, the holders of a majority of the shares of our common stock entitled to vote can elect all directors standing for election. Subject to preferences that may be applicable to any outstanding shares of preferred stock, holders of our common stock are entitled to receive ratably such dividends, if any, as may be declared from