(BofA) – Ormat Declares Pricing of Public Providing of Widespread Stock
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RENO, Nev., Nov. 18, 2020 (GLOBE NEWSWIRE) — Ormat Applied sciences, Inc. (NYSE: ORA) (“Ormat” or the “Company”), a number one vertically built-in firm that’s primarily engaged within the geothermal and recovered vitality technology (“REG”) companies, as properly the photo voltaic photovoltaic (PV) and vitality storage and administration providers enterprise, immediately introduced that it has priced its underwritten public providing of 4,150,00zero shares of its frequent stock at a price of $74.00 per share. The providing is predicted to shut on November 23, 2020, topic to market and different situations.
Ormat intends to make use of the online proceeds from the providing for basic company functions, together with working capital and capital expenditures, and for potential acquisitions, together with complementary companies, applied sciences or property.
J.P. Morgan Securities LLC and (BofA) Securities are appearing as joint book-running managers for the providing. UBS Securities LLC can also be appearing as a joint book-running supervisor for the providing. Cowen, HSBC Securities (USA) Inc., Oppenheimer & Co. Inc. and Roth Capital Companions are appearing as co-managers for the providing. Ormat has granted the underwriters a 30-day choice to buy as much as a further 622,500 shares of its frequent stock.
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or different jurisdiction during which such supply, solicitation or sale could be illegal previous to the registration or qualification below the securities legal guidelines of any such state or different jurisdiction.
The providing is being made pursuant to an robotically efficient shelf registration assertion on Type S-3 (together with a base prospectus and a associated prospectus complement) filed with the U.S. Securities and Alternate Fee. Copies of the bottom prospectus and associated prospectus complement may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Monetary Options, 1155 Lengthy Island Avenue, Edgewood, NY 11717, or by e mail: firstname.lastname@example.org, or by phone: 1 (866) 803-9204; and from (BofA) Securities, NC1-004-03-43, 200 North Faculty Street, third Ground, Charlotte, NC 28255-0001, Consideration: Prospectus Division or by e mail at email@example.com.
ABOUT ORMAT TECHNOLOGIES
With over 5 a long time of expertise, Ormat Applied sciences, Inc. is a number one geothermal firm and the one vertically built-in firm engaged in geothermal and REG, with the target of turning into a number one international supplier of renewable vitality. The Firm owns, operates, designs, manufactures and sells geothermal and REG energy vegetation based totally on the Ormat Power Converter – an influence technology unit that converts low-, medium- and high-temperature warmth into electrical energy. The Firm has engineered, manufactured and constructed energy vegetation, which it presently owns or has put in to utilities and builders worldwide, totaling over 3,00zero MW of gross capability. Ormat’s present 933 MW producing portfolio is unfold globally throughout the U.S., Kenya, Guatemala, Indonesia, Honduras and Guadeloupe. Ormat expanded its operations to offer vitality storage and vitality administration options, by leveraging its core capabilities and international presence in addition to via its Viridity Power Options Inc. subsidiary.
Info supplied on this press launch may comprise statements referring to present expectations, estimates, forecasts and projections about future occasions which are “forward-looking statements” as outlined within the Personal Securities Litigation Reform Act of 1995. These forward-looking statements embrace statements regarding the completion of the providing and the usage of proceeds therefrom. Precise future outcomes may differ materially from these projected because of sure dangers and uncertainties. For a dialogue of such dangers and uncertainties, see “Risk Factors,” in every case, included in Ormat’s Annual Report on Type 10-Okay for the yr ended December 31, 2019 filed with the Securities and Alternate Fee (“SEC”) on March 2, 2020, as amended by Modification No. 1 on Type 10-Okay/A filed with the SEC on March 3, 2020, and Ormat’s Quarterly Report on Type 10-Q for the quarterly interval ended September 30, 2020 filed with the SEC on November 5, 2020 and different threat elements detailed infrequently in filings with the SEC. These forward-looking statements are made solely as of the date hereof, and the Firm undertakes no obligation to replace or revise the forward-looking statements, whether or not because of new data, future occasions or in any other case, besides as required by legislation.
|Ormat Applied sciences Contact:Smadar LaviVP Company Finance and Head of Investor Relations775-356-9029 (ext. 65726)firstname.lastname@example.org||Investor Relations Company Contact:Rob FinkFNK IR646-809-4048 email@example.com|
Supply: Ormat Applied sciences, Inc.