Form 8-K
8-K — Trio Petroleum Corp
Accession: 0001493152-26-015726
Filed: 2026-04-08
Period: 2026-04-08
CIK: 0001898766
SIC: 1311 (CRUDE PETROLEUM & NATURAL GAS)
Item: Other Events
Item: Financial Statements and Exhibits
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): April 8, 2026
Trio
Petroleum Corp
(Exact
name of registrant as specified in its charter)
Delaware
001-41643
87-1968201
(State
or other Jurisdiction
of
Incorporation)
(Commission
File
Number)
(IRS
Employer
Identification
No.)
23823
Malibu Road, Suite 304
Malibu,
CA 90265
(661)
324-3911
(Address
and telephone number, including area code, of registrant’s principal executive offices)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act:.
Title
of each class
Trading
Symbol(s)
Name
of each exchange on which registered
Common
Stock, par value $0.0001 per share
TPET
The
NYSE American
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
8.01. Other Events.
On
January 9, 2026, Trio Petroleum Corp, a Delaware corporation (the “Company”), filed a Current Report on Form 8-K (the “January
9th 8-K”) with the Securities and Exchange Commission (the “Commission”) reporting that it had entered into
an At Market Issuance Sales Agreement (the “ATM Agreement”) with Ladenburg Thalmann & Co. Inc. as agent (the “Sales
Agent”) pursuant to which the Company may issue and sell shares of its common stock, $0.0001 par value per share (“Common
Stock”), from time to time through the Sales Agent (the “Offering”). On January 9, 2026, the Company also filed a prospectus
supplement with the Commission covering the sale of shares of Common Stock having an aggregate offering price of up to $3,600,000, in
connection with the Offering (the “Prospectus Supplement”), along with the base prospectus (the “Base Prospectus”),
under its existing Registration Statement on Form S-3 (File No 333-281813), which became effective on September 10, 2024 (the “Registration
Statement”).
On
March 3, 2026, the Company filed Amendment No. 1 to the Prospectus Supplement (“Amendment No. 1”) amending and supplementing
the Prospectus Supplement to update the amount of shares eligible for sale under General Instruction I.B.6 of Form S-3 (“Instruction
I.B.6.). Following the filing of Amendment No. 1, the aggregate amount of shares that were available for sale was $3,292,000. The maximum
aggregate offering amount was $6,892,000, which included shares of Common Stock having an aggregate sales price of $3,599,885 (7,344,372
shares of Common Stock) that were previously sold pursuant to the Prospectus Supplement.
On
March 4, 2026, the Company filed Amendment No. 2 to the Prospectus Supplement (“Amendment No. 2”) further amending and supplementing
the Prospectus Supplement, as amended, to further update the amount of shares eligible for sale under General Instruction I.B.6. Following
the filing of Amendment No. 2, the aggregate amount of shares that were available for sale was $6,485,000. The maximum aggregate offering
amount was $13,377,000, which included shares of Common Stock having an aggregate sales price of $6,891,859 (9,254,648 shares of Common
Stock) that were previously sold pursuant to the Prospectus Supplement, as amended.
On
March 5, 2026, the Company filed Amendment No. 3 to the Prospectus Supplement (“Amendment No. 3”) further amending and supplementing
the Prospectus Supplement, as amended, to further update the amount of shares eligible for sale under General Instruction I.B.6. Following
the filing of Amendment No. 3, the aggregate amount of shares that were available for sale was $4,000,000. The maximum aggregate offering
amount was $17,377,000, which included shares of Common Stock having an aggregate sales price of $13,376,774 (15,348,345 shares of Common
Stock) that were previously sold pursuant to the Prospectus Supplement, as amended.
On
March 10, 2026, the Company filed Amendment No. 4 to the Prospectus Supplement (“Amendment No. 4”) further amending and supplementing
the Prospectus Supplement, as amended, to further update the amount of shares eligible for sale under General Instruction I.B.6. Following
the filing of Amendment No. 4, the aggregate amount of shares that were available for sale was $1,641,000 (the “Placement Shares”).
The maximum aggregate offering amount was $19,018,000, which included shares of Common Stock having an aggregate sales price of $17,375,884
(18,139,045 shares of Common Stock) that were previously sold pursuant to the Prospectus Supplement, as amended.
On
March 30, 2026, the Company filed Amendment No. 5 to the Prospectus Supplement (“Amendment No. 5”) further amending and supplementing
the Prospectus Supplement, as amended, to further update the amount of shares eligible for sale under General Instruction I.B.6. Following
the filing of Amendment No. 5, the aggregate amount of shares that were available for sale was $1,010,000 (the “Placement Shares”).
The maximum aggregate offering amount was $20,028,000, which includes shares of Common Stock having an aggregate sales price of $19,016,726
(19,202,455 shares of Common Stock) that were previously sold pursuant to the Prospectus Supplement, as amended.
On
April 6, 2026, the Company filed Amendment No. 6 to the Prospectus Supplement (“Amendment No. 6”) further amending and supplementing
the Prospectus Supplement, as amended, to further update the amount of shares eligible for sale under General Instruction I.B.6. Following
the filing of Amendment No. 6, the aggregate amount of shares that were available for sale was $945,000 (the “Placement Shares”).
The maximum aggregate offering amount was $20,973,000, which includes shares of Common Stock having an aggregate sales price of $20,027,510
(20,651,554 shares of Common Stock) that were previously sold pursuant to the Prospectus Supplement, as amended.
On
April 7, 2026, the Company filed Amendment No. 7 to the Prospectus Supplement (“Amendment No. 7”) further amending and supplementing
the Prospectus Supplement, as amended, to further update the amount of shares eligible for sale under General Instruction I.B.6. Following
the filing of Amendment No. 7, the aggregate amount of shares that were available for sale was $893,000 (the “Placement Shares”).
The maximum aggregate offering amount was $21,866,000, which includes shares of Common Stock having an aggregate sales price of $20,972,479
(22,025,654 shares of Common Stock) that were previously sold pursuant to the Prospectus Supplement, as amended.
On
April 8, 2026, the Company filed Amendment No. 8 to the Prospectus Supplement (“Amendment No. 8”) further amending
and supplementing the Prospectus Supplement, as amended, to further update the amount of shares eligible for sale under General Instruction
I.B.6. Following the filing of Amendment No. 8, the aggregate amount of shares that are available for sale is $1,060,000 (the “Placement
Shares”). The maximum aggregate offering amount is $22,926,000, which includes shares of Common Stock having an aggregate sales
price of $21,865,453 (23,631,319 shares of Common Stock) that were previously sold pursuant to the Prospectus Supplement, as amended.
All
other terms of the Offering and the ATM Agreement are described in the January 9th 8-K and the ATM Agreement, which is filed
as Exhibit 10.1 to the January 9th 8-K.
The
legal opinion of Ellenoff Grossman & Schole LLP, counsel to the Company, relating to the Placement Shares being offered is filed
as Exhibit 5.1 to this Current Report on Form 8-K.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit
No.
Description
5.1
Opinion of Ellenoff Grossman & Schole LLP
10.1*
At Market Issuance Sales Agreement, dated January 9, 2026, between the Trio Petroleum Corp and Ladenburg Thalmann Co. Inc.
23.1
Consent of Ellenoff Grossman & Schole LLP (included in Exhibit 5.1)
104
Cover
Page Interactive Data File (embedded within the XBRL document)
*
Incorporated by reference to Exhibit 10.1 of the Company’s Form 8-K filed with the Commission on January 9, 2026
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
April 8, 2026
Trio
Petroleum Corp.
By:
/s/
Robin Ross
Name:
Robin
Ross
Title:
Chief
Executive Officer
EX-5.1
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Exhibit
5.1
1345
AVENUE OF THE AMERICAS,
11th
FLOOR
NEW
YORK, NEW YORK 10017
TELEPHONE:
(212) 370-1300
FACSIMILE:
(212) 370-7889
www.egsllp.com
April
8, 2026
Trio
Petroleum Corp
23823
Malibu Road, Suite 304
Malibu,
CA 90265
Re:
Registration Statement on Form S-3 (333-281813)
Ladies
and Gentlemen:
We
have acted as counsel to Trio Petroleum Corp, a Delaware corporation (the “Company”), in connection with the above-referenced
registration statement (the “Registration Statement”), the base prospectus dated September 10, 2024 (the “Base Prospectus”),
the prospectus supplement dated January 9, 2026 (the “Prospectus Supplement”), Amendment No. 1 to the Prospectus Supplement,
dated March 3, 2026 (“ Amendment No. 1”), Amendment No 2 to the Prospectus Supplement, dated March 4, 2026 (“Amendment
No. 2”), Amendment No. 3 to the Prospectus Supplement, dated March 5, 2026 (“Amendment No. 3”), Amendment No. 4 to
the Prospectus Supplement, dated March 10, 2026 (“Amendment No. 4”), Amendment No. 5 to the Prospectus Supplement, dated
March 30, 2026 (“Amendment No. 5”), Amendment No. 6 to the Prospectus Supplement, dated April 6, 2026 (“Amendment No.
6”), Amendment No. 7 to the Prospectus Supplement, dated April 7, 2026 (“Amendment No. 7”), and Amendment No. 8 to
the Prospectus Supplement, dated April 8, 2026 (“Amendment No. 8” and together with Amendment No. 7, Amendment No.
6, Amendment No. 5, Amendment No. 4, Amendment No. 3, Amendment No. 2, Amendment No. 1, the Prospectus Supplement and the Base Prospectus,
the “Prospectus”), relating to the offering by the Company of up to $1,060,000 of shares (the “Shares”) of the
Company’s common stock, par value $0.0001 per share (“Common Stock”). The Shares are covered by the Registration Statement
and we understand that the Shares are to be offered and sold in the manner described in the Prospectus. This opinion is being delivered
at the request of the Company and in accordance with the requirements of Item 601(b)(5) of Regulation S-K promulgated by the Securities
and Exchange Commission (the “Commission”).
For
purposes of this opinion, we have examined such documents and reviewed such questions of law as we have considered necessary and appropriate
for the purposes of our opinion set forth below. In rendering our opinion, we have assumed the authenticity of all documents submitted
to us as originals, the genuineness of all signatures and the conformity to authentic originals of all documents submitted to us as copies.
We have also assumed the legal capacity for all purposes relevant hereto of all natural persons and, with respect to all parties to agreements
or instruments relevant hereto other than the Company, that such parties had the requisite power and authority (corporate or otherwise)
to execute, deliver and perform such agreements or instruments, that such agreements or instruments have been duly authorized by all
requisite action (corporate or otherwise), executed and delivered by such parties and that such agreements or instruments are the valid,
binding and enforceable obligations of such parties. As to questions of fact material to our opinions, we have relied upon certificates
of officers of the Company and of public officials.
Based
upon and subject to the foregoing, we are of the opinion that the Shares have been duly authorized and, when issued and paid for as described
in the Prospectus, will be validly issued, fully paid and non-assessable.
We
express no opinion as to matters governed by any laws other than the Delaware General Corporation Law, the laws of the State of New York
and the federal laws of the United States of America, all as in effect on the date hereof.
We
consent to the filing of this opinion with the Commission as Exhibit 5.1 to the Company’s Current Report on Form 8-K filed on April
8, 2026, which is incorporated by reference in the Prospectus. We also consent to the reference of our firm under the caption
“Experts” in the Prospectus and in each case in any amendment or supplement thereto. In giving this consent, we do not thereby
admit that we are in the category of persons whose consent is required under Section 7 and Section 11 of the Securities Act of 1933,
as amended, or the rules and regulations of the Commission promulgated thereunder, nor do we admit that we are experts with respect to
any part of the Prospectus within the meaning of the term “expert” as used in the Securities Act of 1933, as amended, or
the related rules and regulations of the Commission promulgated thereunder.
Very
truly yours,
/s/
Ellenoff Grossman & Schole LLP
Ellenoff
Grossman & Schole LLP
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