secwatch.observer — SEC 8-K summary
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Issuer:     ORMAT TECHNOLOGIES, INC. (ORA)
CIK:        0001296445
Form:       8-K
Filed at:   2026-03-23T23:59:59+00:00
Accession:  0001213900-26-032467
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ormat closes $1B convertible note offering; repurchases $286M of 2027 notes and $25M common stock
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- $1B aggregate convertible notes: $825M Series A (1.50%) and $175M Series B (0.00%), due 2031; initial conversion price ~$140.40/share.
- Net proceeds ~$975.7M; used $287.9M + $25M cash + 0.6M shares to repurchase $285.9M of existing 2.50% 2027 notes.
- Also used $25M of proceeds to repurchase common stock at $108/share in private transactions to offset dilution.
- Series B notes may be put to Ormat on March 15, 2027 at par; company may redeem notes on/after March 20, 2029 if stock hits 130% conversion price.
- Remaining net proceeds for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1296445/000121390026032467/0001213900-26-032467-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1296445/000121390026032467/ea0282703-8k_ormat.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-032467

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