Trio Petroleum sells $21.9M in stock through ATM offering, 23.6M shares issued in 10 weeks

Filed April 8, 2026 · Period ending April 8, 2026 · ~1 min read

Key Changes

• high

  Company sold 23.6 million shares for $21.9M since January through at-the-market offering, with only $1.06M remaining available. This represents massive dilution to existing shareholders over a short period.

  Item 8.01 verify on EDGAR →
• high

  Filed eight amendments to ATM prospectus in just five weeks (March 3 to April 8), expanding program from initial $3.6M to $22.9M total. Rapid amendments signal aggressive, continuous equity issuance as company exhausted prior limits.

  Item 8.01 verify on EDGAR →
• high

  Share count increased by over 16 million shares between early March and early April alone. Average implied price per share across all sales is approximately $0.93.

  Item 8.01 verify on EDGAR →