Ormat Technologies (ORA) Prices 4.15M Share Common Offering at $74/Sh

Ormat Technologies, Inc. (NYSE: ORA) today announced that it has priced its underwritten public offering of 4,150,000 shares of its common stock at a price of $74.00 per share. The offering is expected to close on November 23, 2020, subject to market and other conditions.

Ormat intends to use the net proceeds from the offering for general corporate purposes, including working capital and capital expenditures, and for potential acquisitions, including complementary businesses, technologies or assets.

J.P. Morgan Securities LLC and BofA Securities are acting as joint book-running managers for the offering. UBS Securities LLC is also acting as a joint book-running manager for the offering. Cowen, HSBC Securities (USA) Inc., Oppenheimer & Co. Inc. and Roth Capital Partners are acting as co-managers for the offering. Ormat has granted the underwriters a 30-day option to purchase up to an additional 622,500 shares of its common stock.

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