Trio Petroleum Corp Updates At-Market Offering, Increasing Available Sales to $6.485M and Maximum to $6.892M
Trio Petroleum Corp provided an update on its At Market Issuance Sales Agreement (ATM Agreement) with Ladenburg Thalmann & Co. Inc. Initially established on January 9, 2026, for up to $3.6 million in common stock sales, the company subsequently amended the prospectus. Following an amendment on March 3, 2026, the maximum aggregate offering amount under the program was updated to $6.892 million, with $3.292 million available for sale after accounting for $3.599 million in previously sold shares. A further amendment on March 4, 2026, increased the currently available amount for sale to $6.485 million, indicating the company's ongoing use of this financing mechanism to potentially raise capital.
Key Highlights
- Trio Petroleum initially entered into an At Market Issuance Sales Agreement (ATM Agreement) on January 9, 2026, with Ladenburg Thalmann & Co. Inc. as agent.
- The initial prospectus supplement filed on January 9, 2026, covered the sale of common stock with an aggregate offering price of up to $3,600,000.
- An amendment on March 3, 2026, updated the maximum aggregate offering amount under the ATM program to $6,892,000.
- As of March 3, 2026, $3,599,885 (representing 7,344,372 shares) had been previously sold under the prospectus supplement, leaving $3,292,000 available for sale.
- A subsequent amendment on March 4, 2026, further increased the aggregate amount of shares available for sale to $6,485,000.
Price Impact
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