Indonesia Energy Corporation Limited Announces Pricing of Initial Public Offering

NEW YORK, NY and JAKARTA, INDONESIA / ACCESSWIRE / December 19, 2019 / Indonesia Energy Corporation Limited (IEC) (NYSE American:INDO), an oil and gas exploration and production company focused on Indonesia, announced that it priced its initial public offering of 1,363,367 ordinary shares at a price per share of $11.00, for gross proceeds of $15,000,000.

IEC’s ordinary shares will be listed on The NYSE American LLC Exchange and are expected to trade beginning on December 19, 2019 under the ticker symbol “INDO”. The offering is expected to close on December 23, 2019, subject to customary conditions.

Aegis Capital Corp. is acting as sole bookrunning manager for the offering. IEC has granted the underwriter a 45-day option to purchase up to an additional 204,545 ordinary shares at the initial public offering price to cover over-allotments.

The offering is being made by means of a prospectus. Copies of the prospectus may be obtained, when available, from Aegis Capital Corp., 810 Seventh Avenue, 18th Floor, New York, New York 10019, Attn: Prospectus Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at [email protected] or by telephone at (212) 813-1010.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on December 19, 2019. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to IEC’s initial public offering and the underwriter’s over-allotment option described herein. Forward-looking statements are subject to numerous conditions, many of which are beyond IEC’s control, including those set forth in the Risk Factors section of IEC’s registration statement and preliminary prospectus for the offering filed with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:
Frank Ingriselli
President, Indonesia Energy Corporation Limited
[email protected]

Public Relations Contact:
MJ Clyburn
TraDigital IR
Phone: +1 (212) 389-9782 x 101
Email: [email protected]

SOURCE: Indonesia Energy Corporation Limited 

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