Trio Petroleum Expands At-the-Market Equity Offering Program

Trio Petroleum Corp. ( (TPET) ) has shared an announcement.

On January 9, 2026, Trio Petroleum Corp. reported it had entered into an at-the-market issuance sales agreement with Ladenburg Thalmann & Co. Inc., enabling it to sell common stock from time to time, and filed a prospectus supplement for up to $3.6 million in shares under an existing shelf registration effective since September 10, 2024. Between March 3 and April 6, 2026, the company filed six successive amendments to that prospectus supplement to update the capacity permitted under Form S-3 rules, progressively increasing the maximum aggregate offering amount from $6.89 million to $20.97 million and selling about $20.03 million of stock, moves that significantly expanded its equity-raising capacity but also increased outstanding shares and potential dilution for existing shareholders.

Amendment No. 1 on March 3, 2026, reset the remaining shares available for sale to $3.29 million, bringing the total program size to $6.89 million including about $3.60 million of stock already sold. Amendment No. 2, filed March 4, 2026, lifted the remaining capacity to $6.49 million and the total program to $13.38 million, reflecting about $6.89 million in prior sales.

On March 5, 2026, Amendment No. 3 increased the maximum aggregate offering to $17.38 million, with $13.38 million of common stock previously placed and $4 million still available to sell. Amendment No. 4, filed March 10, 2026, brought prior sales to roughly $17.38 million and left $1.64 million of capacity, raising the overall program size to $19.02 million.

Amendment No. 5 on March 30, 2026, adjusted remaining capacity to $1.01 million and pushed the maximum aggregate offering to $20.03 million, with about $19.02 million already sold in 19.2 million shares. Amendment No. 6, filed April 6, 2026, further refined the figures, leaving $945,000 in stock available for future issuance and setting the total program size at $20.97 million, with approximately $20.03 million raised through the sale of 20.65 million shares since the program’s launch.

More about Trio Petroleum Corp.

Trio Petroleum Corp. is a Delaware-incorporated company that issues common stock with a par value of $0.0001 per share and accesses U.S. capital markets through registered offerings. The company utilizes at-the-market equity programs, working with investment banks such as Ladenburg Thalmann & Co. Inc. as sales agents to raise funding by periodically selling newly issued shares.

Average Trading Volume: 35,862,264

Technical Sentiment Signal: Sell

Current Market Cap: $23.62M

Learn more about TPET stock on TipRanks’ Stock Analysis page.