NEW YORK, March 6, 2026, 06:21 EST
- Trio Petroleum has put $4 million worth of stock on the table through its at-the-market program.
- The company disclosed it’s moved roughly $13.38 million worth of shares through the facility over the last 12 months.
- TPET shares whipped around this week, following an extended stretch of high-volume trading.
Trio Petroleum Corp has updated its at-the-market share sale program, with $4 million in common stock still up for grabs following an amended prospectus supplement filing.
Trio’s situation is notable—it’s burned through almost all of the capacity it had set aside for the program, which lets smaller listed companies tap cash in smaller bites rather than through a big, one-off deal. In its filing, Trio disclosed it had sold $13,376,774 of stock under the facility as of the amendment date.
Trio shares have been swinging wildly. On Thursday, the stock finished at $1.59—an 87.28% jump for the day. That surge came right after a 56.46% plunge in the previous session, price history data show.
The stock changed hands at $1.59 on Friday, market data showed.
Trio, in its filing, said it has now settled on $4 million available for sale, after amending its plans twice earlier this week to tweak the sale amount. The company put the maximum aggregate under the program at $17.377 million, counting shares already sold, according to the filing.
An at-the-market offering, known as an ATM, gives a company the ability to sell new shares directly into the open market at current prices, working with a sales agent instead of setting terms for a single marketed transaction.
Trio said its sales agent, Ladenburg Thalmann & Co. Inc., isn’t obligated to move any fixed amount of shares. The company still calls the shots on when and how much gets sold.
Securities lawyers refer to the “baby shelf” limit here—a Form S-3 rule that restricts smaller issuers with a public float under $75 million from selling more than a set amount in any 12-month period. SEC
Trio pegged its public float at roughly $52.1 million as of March 5, using 26,466,140 shares outside affiliate hands and a $1.97 reference price.
For investors, the risk is clear. If Trio dumps stock into a rally, extra supply can hit the price. Any slip in shares shrinks the float-based limit that sets how much the company’s allowed to unload.
