Form 8-K - Current report
December 12 2023 - 3:51PM
Edgar (US Regulatory)
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0001898766
0001898766
2023-12-11
2023-12-11
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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): December 11, 2023
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.) |
5401
Business Park, Suite 115
Bakersfield,
CA 93309
(661)
324-3911
(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: None.
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
5.07. Submission of Matters to a Vote of Security Holders.
On
December 11, 2023, Trio Petroleum Corp. (the “Company”) held a special meeting of its stockholders (the “Special Meeting”).
At the Special Meeting, the Issuance of Shares Proposal (as defined below) was approved.
As
of October 13, 2023 (the “Record Date”), there were 29,496,492 shares of Common Stock (the “Common Stock”), of
the Company issued and outstanding and entitled to vote at the Special Meeting. At the Special Meeting, a total of 16,157,561 shares
of Common Stock, representing approximately 54.78% of the issued and outstanding shares of the Common Stock, were present in person or
by proxy, constituting a quorum for the Special Meeting.
At
the Special Meeting, the following proposals were made for the Company’s stockholders’ consideration:
(1) The
Issuance of Shares Proposal – a proposal to approve the issuance of shares of the Company’s common stock, par value
$0.0001 per share, representing more than 20% of Common Stock outstanding upon the conversion of certain notes issued, or to be
issued (the “Convertible Notes”), and upon the exercise of certain warrants issued, or to be issued (the
“Warrants”), by the Company, in each case, pursuant to a securities purchase agreement (the “Securities Purchase
Agreement”), dated as of October 4, 2023, by and between the Company and a certain institutional investor (the
“Investor”), in connection with a private placement in accordance with NYSE American Rule 713(a)(ii). The following is a
tabulation of the votes with respect to the Issuance of Shares Proposal, which was approved by the Company’s
stockholders:
For |
|
Against |
|
Abstain |
16,057,374 |
|
85,119 |
|
15,068 |
(2) The
Adjournment of Meeting Proposal – a proposal to adjourn the Special Meeting to a later date or dates, if necessary, to
permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Special Meeting, there are not
sufficient votes to approve the Issuance of Shares Proposal.
The
Adjournment of Meeting Proposal was not acted upon at the Special Meeting because a quorum was present, in person or by proxy, and the
Issuance of Shares Proposal had received a sufficient number of votes for approval.
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:
December 12, 2023 |
By: |
/s/
Michael L. Peterson |
|
Name: |
Michael L. Peterson |
|
Title: |
Chief Executive Officer |
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