Ormat Technologies, Inc. (NYSE: ORA) on Tuesday said it plans to offer 3,500,000 shares of its common stock in an underwritten follow-on public offering. The Company also plans to grant the underwriters a 30-day option to purchase up to an aggregate of 525,000 additional shares of common stock.
The Company expects to use the proceeds from this offering for its general corporate purposes and those of its consolidated subsidiaries, which may include construction of geothermal and recovered energy generation power plants and other investments, and financing possible acquisitions.
Lehman Brothers Inc. and Goldman, Sachs & Co. are acting as joint book-running managers, Citigroup Global Markets Inc. is acting as joint lead manager and RBC Capital Markets Corporation and HSBC Securities (USA) Inc. are acting as co-managers for the offering.
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