Ormat Technologies, Inc. Announces Closing of Sale of 3,100,000 Shares of Common Stock
14 Maio 2008 - 6:14PM
PR Newswire (US)
RENO, Nev., May 14 /PRNewswire-FirstCall/ -- Ormat Technologies,
Inc. (NYSE:ORA) (the "Company") today announced the closing of the
sale of 3,100,000 shares of common stock in a public offering.
Lehman Brothers Inc. acted as underwriter for the public offering.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO)
The aggregate net proceeds from the public offering, after
deducting underwriting discounts and commissions and estimated
offering expenses, are approximately $149.6 million. The Company
expects to use some or all of the net proceeds to acquire
additional geothermal and recovered energy assets, either directly
or through one or more subsidiaries, by way of acquiring assets or
securities of existing businesses, purchasing or leasing new
geothermal or recovered energy sites, expansion or development of
existing projects, or any combination of the above. The Company is
currently considering a number of alternatives and may consider
other alternatives in the future. To the extent the Company decides
not to proceed with any one or more of these alternatives, the
Company expects to use the net proceeds from this public offering
for other general corporate purposes of the Company and its
consolidated subsidiaries. A written prospectus meeting the
requirements of Section 10 of the Securities Act of 1933 may be
obtained from Lehman Brothers Inc., c/o Broadridge Integrated
Distribution Services, Inc., 1155 Long Island Avenue, Englewood,
New York, 11717, by email: or fax: (631) 254-7140. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of any of these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. About Ormat
Technologies Ormat Technologies, Inc. is the only
vertically-integrated company primarily engaged in the geothermal
and recovered energy power business. The Company designs, develops,
owns and operates geothermal and recovered energy-based power
plants around the world. Additionally, the Company designs,
manufactures and sells geothermal and recovered energy power units
and other power-generating equipment, and provides related
services. The Company has more than four decades of experience in
the development of environmentally-sound power, primarily in
geothermal and recovered-energy generation. Ormat products and
systems are covered by more than 75 patents. Ormat currently
operates the following geothermal and recovered energy-based power
plants: in the United States -- Brady, Heber, Mammoth, Ormesa,
Puna, Steamboat and OREG 1; in Guatemala -- Zunil and Amatitlan; in
Kenya -- Olkaria; and in Nicaragua -- Momotombo. 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 5, 2008. 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 Todd Fromer / Marybeth Csaby CEO KCSA
Strategic Communications 775-356-9029 212-896-1215/212-896-1236 /
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO
http://photoarchive.ap.org/ DATASOURCE: Ormat Technologies, Inc.
CONTACT: Dita Bronicki, CEO of Ormat Technologies, +1-775-356-9029,
; or Investors, Todd Fromer, +1-212-896-1215, , or Marybeth Csaby,
+1-212-896-1236, , both of KCSA Strategic Communications, for Ormat
Technologies Web site: http://www.ormat.com/
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