STOCK TITAN
  1. Home
  2. Sec-filings
  3. TPET
  4. [8-K] Trio Petroleum Corp Reports Material Event

Trio Petroleum (NYSE: TPET) moves to protect listing with reverse split

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Trio Petroleum Corp (TPET) is implementing a 1-for-9 reverse stock split of its issued and outstanding common stock pursuant to stockholder authorization and approval by the Board of Directors. A Certificate of Amendment to the Certificate of Incorporation is expected to be filed in Delaware on August 28, 2026, with the split effective at 4:30 p.m. Eastern Time that day and TPET shares trading on a split-adjusted basis on August 31, 2026, under the same symbol with new CUSIP 89669L306.

Every nine shares of common stock will be automatically combined into one share, with no change to par value. Fractional share entitlements will be settled in cash based on the NYSE American closing price on the effective date. Exercise prices and share counts for outstanding options, warrants, other convertible securities, and shares reserved under equity incentive plans will all be adjusted proportionately. Management states this action is intended to proactively help protect the company’s NYSE American listing while it pursues its acquisition and drilling-focused growth strategy.

Trio reports a strong liquidity position, with approximately $22 million in cash as of April 30, 2026, and an additional $1.7 million raised since then through its at-the-market equity facility, supporting its plans to acquire producing oil and gas assets and develop new drilling opportunities in North America.

Positive

  • None.

Negative

  • None.

Insights

Analyzing...

Item 3.03 Material Modification to Rights of Security Holders Securities
A change was made that materially affects the rights of existing shareholders (e.g., dividend rights, voting rights).
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Reverse stock split ratio 1-for-9 Ratio approved by the Board for the reverse stock split of common stock
Effective time of reverse split 4:30 p.m. Eastern Time on August 28, 2026 Time and date when the reverse stock split becomes effective
Post-split trading start date August 31, 2026 Date TPET common stock is expected to begin trading on a split-adjusted basis
New CUSIP 89669L306 CUSIP number for TPET common stock following the reverse stock split
Cash balance $22 million Cash on Trio Petroleum Corp’s balance sheet as of April 30, 2026
Additional ATM proceeds $1.7 million Approximate amount raised after April 30, 2026 via the at-the-market facility
reverse stock split financial
"Trio Petroleum Corp announces proactive reverse stock split"
A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.
CUSIP number financial
"with the new CUSIP number 89669L306"
A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.
at-the-market ("ATM") facility financial
"raised an additional approximately $1.7 million pursuant to its at-the-market ("ATM") facility"
An at-the-market ("ATM") facility is an authorization that lets a company sell newly issued shares directly into the open market over time at prevailing market prices, similar to putting small packets of goods onto a store shelf whenever demand exists. It matters to investors because it can dilute existing ownership gradually and provide a flexible, cost-efficient way for a company to raise cash without a large, one-time share offering, which can affect share supply and price.
equity incentive plans financial
"the number of shares reserved for issuance pursuant to Trio’s equity incentive plans will also be reduced"
Equity incentive plans are company programs that pay employees, executives, or directors with company stock, stock options, or share units instead of or in addition to cash, aiming to align their interests with shareholders—like giving team members a stake in the house they help build. For investors this matters because such plans can motivate better company performance but also dilute existing ownership and increase reported compensation costs, so they affect future earnings, voting power, and share value.
convertible securities financial
"a proportionate adjustment will be made to any fixed conversion prices for other convertible securities"
Convertible securities are bonds or preferred shares that can be exchanged for a company’s common stock at a predetermined price or under specified conditions. They matter because they combine the steadiness of a loan or fixed dividend with the potential upside of ownership; like a safety‑net that carries a one‑time ticket to become a shareholder, they affect expected returns and can dilute existing stock if converted.

FAQ

What reverse stock split did Trio Petroleum Corp (TPET) approve?
Trio Petroleum Corp approved a 1-for-9 reverse stock split of its issued and outstanding common stock. Every nine existing shares will be automatically combined into one share, with no change to the stock’s par value of $0.0001 per share.

When will TPET’s reverse stock split become effective and when will split-adjusted trading begin?
The reverse stock split is expected to become effective at 4:30 p.m. Eastern Time on August 28, 2026. Trio’s common stock is expected to begin trading on a post-split basis on August 31, 2026 under the same ticker, TPET.

How will fractional shares be treated in Trio Petroleum Corp’s (TPET) reverse stock split?
No fractional TPET shares will be issued. Instead, stockholders otherwise entitled to fractions will receive a cash payment equal to the fraction multiplied by the common stock’s NYSE American closing price on the reverse split’s effective date.

Why is Trio Petroleum Corp (TPET) undertaking a reverse stock split?
Management states the 1-for-9 reverse stock split is a proactive step intended to help protect TPET’s NYSE American listing amid potential changes to exchange listing rules, while the company executes its broader oil and gas growth strategy.

What is Trio Petroleum Corp’s (TPET) cash position supporting its growth plans?
As of April 30, 2026, Trio held approximately $22 million in cash on its balance sheet. Since then, it has raised an additional approximately $1.7 million through its at-the-market equity facility to further support acquisitions and drilling initiatives.

How will TPET’s reverse stock split affect options, warrants, and equity incentive plans?
Trio will make proportionate adjustments to the per share exercise prices and share quantities for all outstanding options, warrants, and other fixed-price convertible securities, and will reduce proportionately the number of shares reserved under its equity incentive plans.

Will Trio Petroleum Corp (TPET) change its ticker or CUSIP after the reverse stock split?
TPET will retain its NYSE American ticker, TPET, following the reverse split. However, its common stock will trade under a new CUSIP number, 89669L306, once the split becomes effective and shares begin trading on a split-adjusted basis.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Understanding 8-K Material Events →
false --10-31 0001898766 0001898766 2026-08-18 2026-08-18 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

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): August 18, 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.)

 

One Park Place, 621 NW 53rd Street Ste 125

Boca Raton, FL 33487

(713) 273-2271

(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   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 3.03 Material Modification to Rights of Security Holders.

 

To the extent required by Item 3.03 of Form 8-K, the information contained in Item 5.03 of this Current Report on Form 8-K is incorporated herein by reference.

 

Item 5.03 Amendment to Articles of Incorporation or Bylaws, Change in Fiscal Year.

 

As previously announced, on May 21, 2026, Trio Petroleum Corp (the “Company”) held its 2026 annual meeting of stockholders (the “Annual Meeting”), at which the Company’s stockholders approved a proposal to amend the Company’s Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) to effect a reverse stock split of its issued and outstanding shares of common stock, par value $0.0001 per share, at a ratio not less than one-for-two and not more than one-for-ten, with the final ratio to be determined in the sole discretion of the Board of Directors of the Company (the “Board”).

 

On August 12, 2026, the Board approved a one-for-nine (1:9) reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”). The Company intends to file with the Secretary of State of the State of Delaware a Certificate of Amendment to its Certificate of Incorporation (the “Certificate of Amendment”) on August 28, 2026 to effect the Reverse Stock Split. The Reverse Stock Split will become effective as of 4:30 p.m., Eastern Time, on August 28, 2026, and the Company’s common stock will begin trading on a split-adjusted basis when the market opens on August 31, 2026.

 

When the Reverse Stock Split becomes effective, every nine (9) shares of the Company’s issued and outstanding common stock will automatically be converted into one share of common stock, without any change in the par value per share. In addition, (i) a proportionate adjustment will be made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options and warrants to purchase shares of common stock, to the extent that the exercise price of such warrants is not based solely on the market price of the common stock at the time of exercise, (ii) a proportionate adjustment will be made to any fixed conversion prices for other convertible securities of the Company and (iii) the number of shares reserved for issuance pursuant to the Company’s equity incentive plans will also be reduced proportionately.

 

Stockholders who would otherwise be entitled to receive fractional shares because they hold a number of shares of common stock not evenly divisible by the applicable Reverse Stock Split ratio will be entitled to receive a cash payment in lieu thereof at a price equal to the fraction of a share to which the stockholder would otherwise be entitled multiplied by the closing price of the common stock as reported on the NYSE American on the effective date of such Reverse Stock Split.

 

The Company’s common stock will continue to trade on the NYSE American LLC under the symbol “TPET.” The new CUSIP number for common stock following the Reverse Stock Split will be 89669L306.

 

VStock Transfer, LLC, the Company’s transfer agent, will also act as the exchange agent for the Reverse Stock Split.

 

For more information about the Reverse Stock Split, see the Company’s Definitive Proxy Statement on Schedule 14A, which was filed and accepted by the Securities and Exchange Commission on April 6, 2026, the relevant portions of which are incorporated herein by reference. A copy of the form of Certificate of Amendment is attached as Exhibit 3.1 hereto and incorporated herein by reference.

 

Item 7.01. Regulation FD Disclosure.

 

On August 18, 2026, the Company issued a press release announcing the Reverse Stock Split. The press release is furnished as Exhibit 99.1 and incorporated by reference herein.

 

The information in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished, shall not be deemed “filed” for any purpose, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as expressly set forth by specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.   Description
3.1   Form of Certificate of Amendment to Amended and Restated Certificate of Incorporation of Trio Petroleum Corp.
99.1   Press Release dated August 18, 2026.
104   Cover Page Interactive Data File (embedded within Inline XBRL document).

 

 
 

 

SIGNATURES

 

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.

 

  Trio Petroleum Corp
     
Date: August 18, 2026 By: /s/ Robin Ross
  Name: Robin Ross
  Title: Chief Executive Officer

 

 

 

EXHIBIT 99.1

 

Trio Petroleum Corp Announces Proactive Reverse Stock Split and

Provides Shareholder Update on Acquisition and Drilling Strategy

 

Boca Raton, Florida — August 18, 2026 (GLOBE NEWSWIRE) — Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”) is pleased to provide shareholders with an update on its growth strategy and also that it will proceed proactively with a 1-for-9 reverse stock split of its outstanding shares of common stock (“Reverse Stock Split”) to protect its NYSE American listing.

 

The Reverse Stock Split is expected to become effective at 4:30 p.m. Eastern Time on August 28, 2026 and Trio’s common stock is expected to begin trading on a post-split basis at the market open on August 31, 2026 under the same symbol (TPET) and with the new CUSIP number 89669L306.

 

When the Reverse Stock Split is effective, every nine (9) shares of Trio’s issued and outstanding common stock will be combined automatically into one (1) share of common stock. The Reverse Stock Split will apply equally to all outstanding shares of common stock, and each stockholder will hold the same percentage of common stock outstanding immediately following the Reverse Stock Split, except for adjustments that may result from the treatment of fractional shares. The Reverse Stock Split ration of 1-for-9 was recently approved by Trio’s Board of Directors and is within the range approved by Trio’s stockholders at its annual meeting of stockholders held on May 21, 2026.

 

No fractional shares will be issued in connection with the Reverse Stock Split, and no fractional shares will be rounded to the nearest whole share. Instead, stockholders who would otherwise be entitled to receive fractional shares because they hold a number of shares of common stock not evenly divisible by the 1-for-9 Reverse Stock Split ratio will be entitled to receive a cash payment in lieu of any fractional shares at a price equal to the fraction of a share to which the stockholder would otherwise be entitled multiplied by the closing price of the common stock as reported on the NYSE American on the effective date of the Reverse Stock Split.

 

In addition, (i) a proportionate adjustment will be made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding Trio stock options and warrants to purchase shares of common stock, to the extent that the exercise price of such warrants is not based solely on the market price of the common stock at the time of exercise, (ii) a proportionate adjustment will be made to any fixed conversion prices for other convertible securities of Trio and (iii) the number of shares reserved for issuance pursuant to Trio’s equity incentive plans will also be reduced proportionately.

 

VStock Transfer, LLC, the transfer agent for Trio’s common stock, is also acting as the exchange agent and transfer agent for the Reverse Stock Split. Stockholders holding their shares electronically in book-entry form are not required to take any action to receive post-split shares. Trio does not have any outstanding certificated shares. Stockholders owning shares through a bank, broker or other nominee will have their positions adjusted to reflect the Reverse Stock Split.

 

 
 

 

Additional information about the Reverse Stock Split can be found in Trio’s definitive proxy statement (Form DEF 14A) filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 6, 2026 and Form 8-K filed with the SEC on August 18, 2026.

 

Proactive Action to Protect the NYSE American Listing

 

“We believe it is important to be proactive rather than reactive,” said Robin Ross, Chairman and Chief Executive Officer of Trio Petroleum Corp “Our objective is to protect Trio’s NYSE American listing in light of potential changes to exchange listing rules and while we also execute our broader strategy of building a substantially larger oil and gas company. The reverse split is not a change in our fundamental business strategy. Rather, it is a prudent corporate action intended to provide Trio with additional flexibility as we pursue that strategy.”

 

Continuing to Pursue Acquisition Opportunities

 

Trio continues to actively evaluate acquisition opportunities in the United States and Canada, with particular emphasis on producing oil and gas assets that can generate near term cash flow and provide opportunities for additional production growth.

 

Trio is actively reviewing a number of oil and gas acquisition opportunities and believes that the current market environment presents both opportunities and challenges for prospective buyers.

 

With oil prices stronger and global demand for oil remaining robust, many producers and asset owners are increasingly confident that commodity prices could remain strong or increase in the future. As a result, sellers are frequently seeking higher valuations for their producing properties.

 

At the same time, naturally declining production from existing oil and gas wells creates an ongoing requirement for producers to replace declining volumes and identify new sources of production.

 

“You Can Find It or You Can Buy It”

 

In response to these market conditions, Trio has begun expanding its growth strategy beyond acquisitions to include the identification and development of new drilling opportunities.

 

As the old oilfield adage goes, “You can find it or you can buy it.”

 

Trio believes that developing the internal and external expertise necessary to identify attractive drilling opportunities can provide the Company with an important additional avenue for growth, particularly at a time when acquisition valuations for producing properties have become increasingly competitive.

 

“We have always believed that the best way to build an oil and gas company is to acquire high-quality production at attractive prices,” said Mr. Ross. “However, the market is changing. Sellers recognize the value of their production and, in many cases, are asking premium prices. At the same time, existing production naturally declines. That combination makes it increasingly important for Trio to develop the ability to create new production ourselves.”

 

 
 

 

“Our philosophy is simple: you can find it or you can buy it. We intend to do both,” said Mr. Ross.

 

Building a Platform for Long-Term Growth

 

Trio believes that combining acquisitions with internally sourced drilling opportunities can provide greater flexibility in allocating capital and potentially improve the Company’s ability to generate attractive returns on invested capital.

 

Importantly, Trio enters this next phase of its growth strategy with a strong financial foundation. As of April 30, 2026, Trio had approximately $22 million in cash on its balance sheet. Since April 30, Trio has raised an additional approximately $1.7 million pursuant to its at-the-market (“ATM”) facility, further strengthening its financial position and ability to pursue its growth strategy.

 

Further, Trio believes that its current share price significantly undervalues the Company relative to its cash position alone, before assigning any value to its existing oil and gas assets, production, or the acquisition and drilling opportunities currently being evaluated.

 

Trio intends to continue pursuing acquisitions where it believes the price and underlying economics are compelling, while simultaneously developing relationships, technical capabilities and industry expertise to identify prospective drilling opportunities.

 

“This is not an either-or strategy,” Ross added. “If we find an attractive producing property at the right price, we will pursue it. If the acquisition market becomes too expensive, we want the expertise and capability to find and develop new production ourselves. Ultimately, our goal is to build a diversified portfolio of producing assets and create sustainable long-term value for our shareholders.”

 

Trio expects to provide additional updates regarding acquisition opportunities, drilling prospects and its overall growth strategy as developments warrant.

 

About Trio Petroleum Corp

 

Trio Petroleum Corp (NYSE American: TPET) is an independent oil and gas company focused on the acquisition, development and optimization of oil and gas properties in North America. The Company’s strategy is centered on acquiring producing assets at attractive valuations, optimizing existing production and identifying opportunities to develop additional production through drilling and other development activities.

 

Cautionary Note Regarding Forward-Looking Statements

 

All statements in this press release of Trio Petroleum Corp (“Trio”) and its management that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” “aim,” “goal,” or “may,” and similar conditional expressions about the future are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts, although not all forward-looking statements are denoted by such words.

 

 
 

 

Any statements made in this press release other than those of historical fact, about an action, event or development, are forward-looking statements. In particular, forward-looking statements in this press release relate to (i) the anticipated effective and trading dates for, and the impact on the Company and its public share price of, the Reverse Stock Split described herein, (ii) the Company’s ability to maintain its listing on the NYSE American and (iii) the Company’s growth plans and strategies as well as future commodity prices and market conditions. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of significant assumptions concerning future events and are subject to many significant risks, uncertainties, and other factors, many of which are outside of the Trio’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of Trio’s Annual Report on Form 10-K and subsequent reports as filed with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov . Trio undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

 

In addition, the Company can provide no assurance that the reverse stock split will achieve any particular trading price or that the Company will maintain its NYSE American listing.

 

Additional information concerning these and other risks and uncertainties is included in Trio Petroleum Corp’s filings with the U.S. Securities and Exchange Commission. Trio undertakes no obligation to update forward-looking statements except as required by applicable law.

 

Investor Relations Contact:

 

Redwood Empire Financial Communications

Michael Bayes 404 809-4172

michael@redwoodefc.com

 

 

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Press Releases

Other Documents