Ormat Technologies prices public offering of 3.6M shares at $82.60, net proceeds ~$297M

ORMAT TECHNOLOGIES, INC.

3,600,000 shares offered at $82.60; underwriters have 30-day option for 540,000 additional shares.
Estimated net proceeds ~$297.1M ($341.7M if option fully exercised) after discounts and expenses.
Goldman Sachs & Co. LLC is sole underwriter; closing expected March 16, 2023.
Offering made under existing shelf registration; proceeds for general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

ORMAT TECHNOLOGIES, INC. entered into Underwriting Agreement with Goldman Sachs & Co. LLC valued at 3,600,000 shares at $82.60 per share with an option for up to an additional 540,000 shares (effective 2023-03-14).

Action: entry
Agreement: underwriting
Counterparty: Goldman Sachs & Co. LLC
Value: 3,600,000 shares at $82.60 per share with an option for up to an additional 540,000 shares
Effective: 2023-03-14

Exact text from the filing

On March 14, 2023, Ormat Technologies, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Goldman Sachs & Co. LLC, as the sole underwriter (the “Underwriter”), in connection with a public offering (the “Offering”), pursuant to which the Company agreed to issue and sell 3,600,000 shares (the “Base Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), and the Underwriter agreed to purchase the Base Shares at a price of $82.60 per share.

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ORMAT TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-020416

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