Ormat Technologies Launches Follow-On Offering of 3.5 Million Shares of Common Stock
28 Março 2006 - 8:43PM
PR Newswire (US)
SPARKS, Nev., March 28 /PRNewswire-FirstCall/ -- Ormat
Technologies, Inc. (NYSE:ORA) today announced that 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. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO ) The
Company expects to use the aggregate net 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. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy any of the securities nor shall there be any sale
of these securities in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state. This offering of
shares of common stock may be made only by means of a prospectus.
Copies of the prospectus can be obtained from Lehman Brothers Inc.,
c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long
Island Avenue, Edgewood, New York 11717, by e-mail: or fax: (631)
254-7268, or from Ormat Technologies, Inc., 980 Greg Street,
Sparks, Nevada, 89431, telephone (775) 356-9029. About Ormat
Technologies Ormat Technologies, Inc. is a vertically integrated
company primarily engaged in the geothermal and recovered energy
power business. The Company designs, develops, builds, owns and
operates geothermal power plants. It also designs, develops and
builds, and plans to own and operate, recovered energy-based power
plants. Additionally, the Company designs, manufactures and sells
geothermal and recovered energy power units and other power
generating equipment, and provides related services. Ormat products
and systems are covered by more than 70 patents. Ormat currently
has operations in the United States, Israel, the Philippines,
Guatemala, Kenya, and Nicaragua. Safe Harbor Statement Information
provided in this press release may contain statements relating to
current expectations, estimates, forecasts and projections about
future events that are "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally relate to Ormat's plans,
objectives and expectations for future operations and are based
upon its management's current estimates and projections of future
results or trends. Actual future results may differ materially from
those projected as a result of certain risks and uncertainties. For
a discussion of such risks and uncertainties, see "Risk Factors" as
described in Ormat Technologies, Inc.'s Annual Report on Form 10-K
filed with the Securities and Exchange Commission on March 28, 2006
and the Prospectus Supplement filed with the Securities and
Exchange Commission on March 28, 2006. These forward-looking
statements are made only as of the date hereof, and we undertake no
obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise.
Ormat Technologies Contact: Investor Relations Contact: Dita
Bronicki Jeff Corbin/Todd Fromer CEO and President KCSA Worldwide
+1-775-356-9029 +212-896-1214/212-896-1215 /
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO
http://photoarchive.ap.org/ DATASOURCE: Ormat Technologies, Inc.
CONTACT: Dita Bronicki, CEO and President of Ormat Technologies,
Inc., +1-775-356-9029, ; or Investors, Jeff Corbin,
+1-212-896-1214, , or Todd Fromer, +1-212-896-1215, , both of KCSA
Worldwide, for Ormat Technologies, Inc.
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