secwatch.observer — SEC 8-K summary
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Issuer:     ORMAT TECHNOLOGIES, INC. (ORA)
CIK:        0001296445
Form:       8-K
Filed at:   2022-06-27T23:59:59+00:00
Accession:  0001213900-22-035192
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ormat Technologies issues $375M 2.50% Green Convertible Notes due 2027
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- Issued $375M aggregate principal of 2.50% Senior Convertible Notes due July 15, 2027.
- Initial conversion price ~$90.27/share, conversion rate 11.0776 shares per $1,000 principal.
- Net proceeds ~$364.9M after fees; used ~$221.9M to prepay Series 3 Bonds, ~$18M for share repurchase, ~$21.3M for capped call transactions.
- Entered into capped call transactions with cap price ~$107.63/share to reduce potential dilution upon conversion.
- Initial purchasers have option to buy additional $56.25M notes; exercise expected to close June 29, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1296445/000121390022035192/0001213900-22-035192-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1296445/000121390022035192/ea162086-8k_ormattech.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-035192

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer