Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 737

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 2
Chunk 737
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 of the shares of common stock for issuance thereunder. The following table sets forth
certain information about the securities authorized for issuance under our incentive plans as of October 31, 2024.

    Plan
    Category 
     Number
                                            of securities to be issued upon exercise of outstanding options, warrants
                                            and rights  
     Weighted-
                                            average exercise price of outstanding options, warrants and rights  
     Number
                                            of granted restricted stock  awards outstanding  
     Number
                                            of securities remaining available for future issuance under equity
                                            compensation plans 
  
    Equity compensation plans approved by security
    holders (1) 
     197,994  
    $15.09  
     168,500  
     272,750 
  
    Equity compensation plans
    not approved by security holders 
     -  
     -  
     -  
     - 

     197,994  
    $15.09  
     168,500  
     272,750 

    (1)
    The
    Company adopted the 2022 Plan originally at the closing of its initial public offering, and the 2022 Plan was amended and restated
    at the 2024 annual meeting of the stockholders on August 15, 2024. As of the date of this Annual Report, all awards under the 2022
    Plan granted by the Board have been disclosed on the Form 8-Ks.

32

Recent
Sales of Unregistered Securities

During
the year ended October 31, 2024, all sales of unregistered securities by the Company have been previously reported on a Form 8-K or Form
10-Q.

Use
of Proceeds

On
April 17, 2023, the U.S. Securities and Exchange Commission declared effective our registration statement on Form S-1 (File No. 333-267380),
as amended, filed in connection with our IPO. There has been no material change in the planned use of proceeds from our IPO from that
described in the related prospectus dated April 19, 2023, filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act.

At-the Market Offering

During
the year ended October 31, 2024, the Company implemented an at-the-market equity offering program (“ATM”),
allowing for the periodic sale of shares of common