Indonesia Energy registers $14.1M ATM capacity

Indonesia Energy Corporation Limited is registering the offer and sale of up to $14,100,000 of its ordinary shares under its existing at-the-market offering agreement with H.C.

Rhea-AI Filing Summary

Indonesia Energy Corporation Limited is registering the offer and sale of up to $14,100,000 of its ordinary shares under its existing at-the-market offering agreement with H.C. Wainwright & Co., LLC.

The supplement increases the company’s available ATM capacity consistent with General Instruction I.B.5 of Form F-3 and notes an aggregate ATM availability of approximately $14,171,399. It also discloses public float and recent sales under the program.

Insights

Equity Capital Markets Analyst

ATM registration increases the company’s available at-the-market selling capacity.

The prospectus supplement registers up to $14,100,000 of Ordinary Shares for sale through the existing ATM Agreement with H.C. Wainwright & Co., LLC, citing General Instruction I.B.5 of Form F-3 as the governing limit.

Cash-flow treatment and sale timing depend on future sales by the company under the ATM; the supplement discloses prior ATM sales of $8,121,011.46 in the past 12 months. Subsequent sales will appear in periodic SEC filings.

Corporate Finance Counsel

Regulatory qualifier and public-float calculation are documented in the supplement.

The company states a public float of $66,877,232 based on 15,386,840 shares outstanding as of April 27, 2026 and a $6.74 per-share reference price. That calculation is cited to General Instruction I.B.5 of Form F-3.

Any limitation tied to that instruction remains operative while public float is below $75.0 million; further sales are subject to the stated one-third-of-public-float cap in any 12-calendar month period.

Key Figures

Registered amount: $14,100,000 Aggregate ATM availability: $14,171,399 Prior ATM sales (12 months): $8,121,011.46 +5 more

8 metrics

Registered amount $14,100,000 Amount being registered under this prospectus supplement

Aggregate ATM availability $14,171,399 Aggregate amount available for sale under the ATM Agreement stated in the supplement

Prior ATM sales (12 months) $8,121,011.46 Ordinary Shares sold pursuant to General Instruction I.B.5 in the prior 12 calendar months

Public float $66,877,232 Aggregate market value of Ordinary Shares held by non-affiliates as of April 27, 2026

Shares outstanding 15,386,840 shares Shares outstanding as of April 27, 2026

Non-affiliate shares 9,922,438 shares Ordinary Shares held by non-affiliates as of April 27, 2026

Reference high closing price $6.74 Highest closing price on NYSE American within 60 days used for public-float calc (March 2, 2026)

Last sale price $3.26 Last sale price on April 24, 2026

Key Terms

at-the-market offerings, General Instruction I.B.5 of Form F-3, public float, ATM Agreement

4 terms

at-the-market offerings financial

"offer and sale of our ordinary shares... in transactions that are deemed to be "at the market offerings""

An at-the-market offering is a method for a company to sell new shares of its stock directly into the stock market over time, rather than all at once. This approach allows the company to raise money gradually, similar to selling small portions of a product as demand grows. For investors, it can influence stock availability and price, making it an important factor to consider when assessing a company's financial strategy.

General Instruction I.B.5 of Form F-3 regulatory

"We are subject to the offering limits set forth in General Instruction I.B.5 of Form F-3"

public float financial

"the aggregate market value of our outstanding Ordinary Shares held by non-affiliates"

Public float is the total number of a company's shares that are available for trading by the general public. It excludes shares held by company insiders or large stakeholders who are unlikely to sell them easily. This figure helps investors understand how much of the company's stock is actively available, which can influence its liquidity and how easily its price might change.

ATM Agreement financial

"pursuant to the At the Market Offering Agreement with Wainwright dated as of July 22, 2022"

An at-the-market (ATM) agreement lets a company sell newly issued shares directly into the public market over time through a broker, rather than selling a large block all at once. Investors care because it provides a flexible way for the company to raise cash when needed, but it can increase the number of shares outstanding gradually and put downward pressure on the stock price if sales are large relative to normal trading—similar to adding more product to a store shelf while customers are buying.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the amount Indonesia Energy (INDO) is registering under this prospectus supplement?

The company is registering up to $14,100,000 of Ordinary Shares for sale under its ATM Agreement. This amount includes unsold shares carried from the prior prospectus supplement.

How much ATM capacity is reported as available after this supplement?

The supplement states an aggregate ATM availability of approximately $14,171,399. This reflects offering limits under General Instruction I.B.5 of Form F-3.

How much has INDO sold under its Form F-3 allowance in the last 12 months?

During the 12 calendar months prior to this supplement, the company sold $8,121,011.46 of Ordinary Shares pursuant to General Instruction I.B.5 on Form F-3.

What public-float and share counts does the prospectus supplement disclose for INDO?

The prospectus supplement reports a public float of $66,877,232 based on 15,386,840 shares outstanding as of April 27, 2026, with 9,922,438 shares held by non-affiliates.

What price references are included in the supplement for INDO shares?

The supplement cites a highest closing price of $6.74 on March 2, 2026 used for public-float calculation and a last sale price of $3.26 on April 24, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 04/27/2026 - 04:05 PM EDT Learn about SEC filing dates

Filed Pursuant to Rule 424(b)(5)

Registration No. 333-278175

PROSPECTUS SUPPLEMENT
(To prospectus dated May 31, 2024)

INDONESIA ENERGY CORPORATION LIMITED

Up to $14,100,000

Ordinary Shares

This prospectus supplement supplements certain information contained in (i) the prospectus supplement (the “First ATM Prospectus Supplement”) and its accompanying prospectus, dated May 31, 2024 (the “Base Prospectus”), (ii) the prospectus supplement dated December 18, 2024 (the “Second ATM Prospectus Supplement”), (iii) the prospectus supplement dated June 16, 2025 (the “Third ATM Prospectus Supplement”), and (iv) the prospectus supplement, dated February 5, 2026 (the “Fourth ATM Prospectus Supplement,” and together with the First ATM Prospectus Supplement and the Base Prospectus, the Second ATM Prospectus Supplement, the Third ATM Prospectus Supplement, the Fourth ATM Prospectus Supplement and this prospectus supplement and the information incorporated by reference herein and therein as described below, the “ATM Prospectus”), relating to the offer and sale of our ordinary shares, par value $0.00267 per share (the “Ordinary Shares”), through H.C. Wainwright & Co., LLC (“Wainwright”), as sales agent, in transactions that are deemed to be “at the market offerings” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, pursuant to the At the Market Offering Agreement with Wainwright dated as of July 22, 2022 (as amended on March 22, 2024, the “ATM Agreement”).

You should carefully read the entire ATM Prospectus, including this prospectus supplement, and all filings previously filed by us, and to be filed by us after the date hereof, with the Securities and Exchange Commission (“SEC”) which are incorporated herein by reference, before investing in our Ordinary Shares. This prospectus supplement is not complete without, and may only be delivered or utilized in connection with, the First ATM Prospectus Supplement, the Second ATM Prospectus Supplement, the Third ATM Prospectus Supplement, the Fourth ATM Prospectus Supplement, and any future amendments or supplements thereto and hereto and all filings with the SEC incorporated by reference herein as contemplated by the Base Prospectus.

We are subject to the offering limits set forth in General Instruction I.B.5 of Form F-3. As of April 27, 2026,  the aggregate market value of our outstanding Ordinary Shares held by non-affiliates was approximately $66,877,232, which we calculated based on 15,386,840 outstanding Ordinary Shares as of such date, of which 9,922,438 Ordinary Shares were held by non-affiliates, and a price per Ordinary Share of $6.74 on March 2, 2026, which was the highest closing price of our Ordinary Shares on the NYSE American within the 60 days preceding the filing of this prospectus supplement. During the 12 calendar months prior to and including the date of this prospectus supplement, we have sold $8,121,011.46 of Ordinary Shares pursuant to General Instruction I.B.5 on Form F-3 as noted above. Pursuant to General Instruction I.B.5 of Form F-3, in no event will we sell securities in public primary offerings on Form F-3 with a value exceeding one-third of our public float (as defined by General Instruction I.B.5) in any 12-calendar month period so long as our public float remains below $75.0 million.

We are filing this prospectus supplement to amend the ATM Prospectus to increase the maximum amount of Ordinary Shares that we are eligible to sell pursuant to the ATM Agreement under General Instruction I.B.5 of Form F-3. As a result of those limitations, the aggregate amount available for sale by us under the ATM Agreement is approximately $14,171,399. Under this prospectus supplement, we are registering the offer and sale of up to a total of $14,100,000 of Ordinary Shares pursuant to the ATM Agreement, including $5,823,778.60 of Ordinary Shares from the Fourth ATM Prospectus Supplement that were unsold prior to the date hereof.

The Ordinary Shares are traded on The NYSE American under the symbol “INDO.” The last sale price of the Ordinary Shares on April 24, 2026, the last trading day immediately prior to the filing of this prospectus supplement, was $3.26 per share on The NYSE American.

Investing in our Ordinary Shares is speculative and subject to significant risks. You should also carefully consider the information set forth under the sections entitled “Risk Factors” in the ATM Prospectus, which is incorporated by reference herein, as well as in our subsequent filings with the SEC that are incorporated into the ATM Prospectus, before investing in our Ordinary Shares.

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS SUPPLEMENT IS ACCURATE, TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

The date of this prospectus supplement is April 27, 2026.