Ormat Technologies Prices Follow-On Offering of 3.5 Million Shares of Common Stock
04 Abril 2006 - 11:29PM
PR Newswire (US)
SPARKS, Nev., April 4 /PRNewswire-FirstCall/ -- Ormat Technologies,
Inc. (NYSE:ORA) today announced that it priced a follow-on public
offering of 3,500,000 shares of its common stock at $35.50 per
share. The Company estimates that the net proceeds resulting from
the offering will be approximately $117.2 million after deducting
fees and commissions and estimated offering expenses associated
with the offering. The closing of the offering is scheduled for
April 10, 2006. (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 HSBC Securities (USA) Inc., RBC Capital Markets
Corporation and Dundee Securities 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. A copy of the final prospectus relating to the
offering may 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 Preliminary 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.
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