Trio Corp (TPET) reduces ATM capacity to $3.29M after $3.60M sold

Rhea-AI Filing Summary

Trio Corp amends its ATM prospectus supplement to update the remaining capacity under its at-the-market program to $3,292,000, after previously selling $3,599,884.47 of common stock under the ATM. The company states it sold 7,344,372 shares for $3,599,884.47 in the prior 12-month period and may now offer shares having an aggregate offering price of up to $3,292,000 through Ladenburg Thalmann under the ATM Agreement.

The filing reports a public float of $20,677,627 based on 18,462,167 shares held by non-affiliates as of March 3, 2026 and a closing price of $1.12 per share as of March 2, 2026. Sales may occur on the NYSE American or other markets as at-the-market offerings; the Sales Agent has no obligation to sell a specific amount and will use commercially reasonable efforts under the ATM Agreement.

Insights

Capital Markets Analyst

TL;DR: Amendment reduces available ATM capacity to $3,292,000 after prior sales of $3,599,884.47.

The amendment updates the ATM Prospectus Supplement to reflect that 7,344,372 shares were sold for $3,599,884.47 in the prior 12-month period and that the remaining capacity under General Instruction I.B.6 is $3,292,000. The filing ties the public float to 18,462,167 shares held by non-affiliates as of March 3, 2026 and uses a closing price of $1.12 per share as of March 2, 2026.

Execution details are standard: sales may be made on the NYSE American or through market makers, and the Sales Agent "is not required to sell any specific number or dollar amount" but will use commercially reasonable efforts. Timing and amount of future sales remain dependent on market conditions and issuer instructions; cash-flow treatment is not detailed in the excerpt.

Filed Pursuant to Rule 424(b)(5)

Registration Statement 333-281813

AMENDMENT NO. 1 TO

PROSPECTUS SUPPLEMENT

(Dated January 9, 2026)

(To Prospectus dated September 10, 2024)

TRIO PETROLEUM CORP

Up to $3,292,000 of Common Stock

This Amendment No. 1 to Prospectus Supplement (this “Amendment”) amends and supplements our prospectus supplement dated January 9, 2026 (the “ATM Prospectus Supplement”). This Amendment should be read in conjunction with the ATM Prospectus Supplement and the base prospectus included in our Shelf Registration Statement on Form S-3 initially filed with the Securities and Exchange Commission on August 28, 2024 and declared effective on September 10, 2024 (File No. 333-281813) (the “Prospectus”), and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the information contained in the ATM Prospectus Supplement or the Prospectus. This Amendment is not complete without, and may only be delivered or utilized in connection with, the ATM Prospectus Supplement and the Prospectus, and any future amendments or supplements thereto.

On January 9, 2026, we entered into an At Market Issuance Sales Agreement (“ATM Agreement”), with Ladenburg Thalmann & Co. Inc. (“Ladenburg” or the “Sales Agent”)) relating to shares of our common stock, par value $0.0001 per share (the “common stock”), offered by the ATM Prospectus Supplement. In accordance with the terms of the ATM Agreement and the ATM Prospectus Supplement, we had the ability to sell shares of our common stock having an aggregate offering price of up to $3.6 million from time to time through Ladenburg, acting as our sales agent or principal. As of the date of this Amendment, we have sold an aggregate of $3,599,884.47 shares of common stock pursuant to the ATM Agreement and the ATM Prospectus Supplement.

Our common stock is listed on the NYSE American (the “NYSE American”) under the symbol “TPET.” On March 2, 2026, the last sale price of our common stock as reported on the NYSE American was $1.12 per share.

We are filing this Amendment to the ATM Prospectus Supplement to update the amount of shares of common stock we are eligible to sell under General Instruction I.B.6. As a result of these limitations and the current public float of our common stock, and in accordance with the terms of the ATM Agreement, after filing this Amendment we may offer and sell shares of common stock having an aggregate offering price of up to $3,292,000 from time to time through Ladenburg, which does not include the shares of common stock having an aggregate sales price of $3,599,884.47 that were sold pursuant to the ATM Prospectus Supplement prior to the filing of this Amendment.

As of the date of this Amendment, the aggregate market value of our outstanding shares of common stock held by non-affiliates, also known as our public float, is $20,677,627, based on 18,462,167 shares of our outstanding common stock held by non-affiliates as of March 3, 2026 and a price of $1.12 per share, the closing price of our common stock on March 2, 2026, which is within 60 days of the date of this Amendment. Pursuant to IB6, in no event will we sell shares of our common stock pursuant to the ATM Prospectus Supplement and the Prospectus, as amended by this Amendment, with a value of more than one-third of our public float in any 12-month period, so long as our public float is less than $75,000,000. As of the date of this Amendment, we have sold 7,344,372 shares of our common stock for a total of $3,599,884.47, pursuant to General Instruction I.B.6 to Form S-3 during the prior 12 calendar month period that ends on and includes the date hereof.

Sales of our common stock, if any, under the ATM Prospectus Supplement, as amended by this Amendment, may be made in sales deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on the NYSE American, or any other existing trading market for our common stock, sales made to or through a market maker in a transaction consummated other than on an exchange, or in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices. The Sales Agent is not required to sell any specific number or dollar amount of shares but will use commercially reasonable efforts to sell on our behalf all of the shares of common stock requested to be sold by us, consistent with its normal trading and sales practices, subject to the terms and conditions of the ATM Agreement. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.

Investing in our securities involves a high degree of risk. You should read this Amendment, the ATM Prospectus Supplement, the accompanying Prospectus and the information incorporated herein and therein by reference carefully before you make your investment decision. See “Risk Factors” beginning on page S-9 of the ATM Prospectus Supplement and on page 14 of the Prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this Amendment, the ATM Prospectus Supplement, or the accompanying Prospectus. Any representation to the contrary is a criminal offense.

Ladenburg Thalmann & Co. Inc.

The date of this Amendment No. 1 to ATM Prospectus Supplement is March 3, 2026

FAQ

How much can Trio Corp (TPET) still sell under its ATM after this amendment?

Trio Corp can offer up to $3,292,000 under the amended ATM Prospectus Supplement. This follows prior sales totaling $3,599,884.47 made under the original ATM agreement.

How many shares has Trio Corp sold under the ATM in the last 12 months?

Trio sold 7,344,372 shares for an aggregate of $3,599,884.47 under General Instruction I.B.6 during the prior 12-calendar-month period ending on the amendment date.

What public float does Trio report and what price was used?

Public float is $20,677,627, based on 18,462,167 shares held by non-affiliates as of March 3, 2026 and a closing price of $1.12 per share as of March 2, 2026.

Who is the sales agent for Trio's ATM program?

Ladenburg Thalmann & Co. Inc. serves as the Sales Agent and will use commercially reasonable efforts to sell shares, but is not obligated to sell any specific number or dollar amount.

Where may Trio's ATM shares be sold?

Sales may occur on the NYSE American or other trading markets, through market makers off-exchange, or in negotiated transactions at prevailing market prices as described in the amendment.