06:06 PM EDT, 07/15/2024 (MT Newswires) -- Trio Petroleum ( TPET ) said Monday it is offering about 35.5 million shares in a public offering on a best-effort basis.

The company said it is also offering investors the chance to buy pre-funded warrant instead of shares. For each pre-funded warrant sold in the offering, the number of shares offered will be reduced by one.

Trio plans to use the net proceeds to repay its debt, for working capital and general corporate purposes, among others.