Ormat Technologies raising $300m on NYSE

AuthorShiri Habib-Valdhorn
Published date15 March 2023
Publication titleGlobes (Rishon LeZion, Israel)
The company has priced 3.6 million shares, with Goldman Sachs acting as sole book running manager for the offering. Goldman Sachs will have a 30-day option of purchasing 540,000 additional shares, so the offering could grow to $345 million

Ormat's share price closed at $89.50 on Tuesday and it can be assumed that t5he latest offering is at a certain discount. The new shares will represent 6%-6.8% of the share equity of the company, after the offering, depending on whether the options are exercised. After the announcement about the offering the share price fell to $83.50, which still reflects a 7% rise over the past year. The company's market cap is $5 billion.

Ormat, managed by CEO Doron Blachar operates in two sectors of activity...

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