Trio Petroleum Shares Drop 22% After Dilutive Offering

Trio Petroleum shares fell about 22% on Wednesday after disclosing additional AT‑M share sales worth roughly $945,000.
Total AT‑M offering since January has sold 22.03 million shares for $20.97 million, with $893,000 still available under a $21.87 million cap.
The company has filed seven prospectus amendments, expanding the original $3.6 million Ladenburg Thalmann agreement to the current size.
The AT‑M program operates under Trio’s Form S‑3 registration effective September 2024, allowing periodic share sales.