Ormat Pronounces Pricing for Public Providing of Frequent Inventory on Behalf of Shareholder Orix Company By Investing.com

RENO, Nev., Dec. 11, 2024 (GLOBE NEWSWIRE) — Ormat Applied sciences, Inc. (NYSE:NYSE:) (Ormat or the Firm), a number one geothermal and renewable vitality expertise firm, at this time introduced the worth of a contract taken out. secondary providing of three,700,000 shares of widespread inventory on behalf of ORIX Company. The providing is anticipated to shut on December 13, 2024, topic to customary closing circumstances. Ormat shouldn’t be providing any of its widespread shares within the providing for its personal account and won’t obtain any proceeds from the sale of the shares supplied by the promoting shareholder.

Goldman Sachs & Co (NYSE:). LLC is appearing as sole book-running supervisor and underwriter of the providing. Frequent inventory is bought to the general public at an preliminary value of $76.20 per share. Goldman Sachs & Co. LLC can have a 30-day choice to buy as much as 555,000 extra shares of Ormat widespread inventory from ORIX Company.

This press launch doesn’t represent a proposal to promote or the solicitation of a proposal to purchase these securities, nor shall there be any sale of those securities in any state or different jurisdiction through which such provide, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state or different jurisdiction.

The providing is being made pursuant to an computerized shelf registration assertion on Kind S-3 filed with the US Securities and Alternate Fee on December 11, 2024. The providing might solely be made by the use of a base prospectus and a associated prospectus complement, copies of which can be obtained by contacting c/o Goldman Sachs & Co. LLC, Consideration: Prospectus Division, 200 West Road, New York, NY 10282, or by phone at (866) 471-2526, or by electronic mail at prospectus-ny@ny.electronic mail.gs.com.

ABOUT ORMAT TECHNOLOGIES

With greater than 5 many years of expertise, Ormat Applied sciences, Inc. is a number one geothermal firm and the one vertically built-in firm engaged in geothermal and restoration (REG) energy era, with robust plans to speed up long-term development. time period within the vitality storage market and to ascertain a management place within the US vitality storage market. The Firm owns, operates, designs, manufactures and sells geothermal and REG energy vegetation based totally on the Ormat Vitality Converter “an influence era unit that converts low, medium and excessive temperature warmth into electrical energy. The Firm has designed, manufactured and constructed energy vegetation, which it at present owns or has put in, for utilities and builders around the globe, totaling roughly 3,400 MW of gross capability. Ormat leveraged its core capabilities within the geothermal and REG sectors in addition to its international presence to broaden the corporate’s enterprise into vitality storage providers, photo voltaic photovoltaic (PV) and vitality storage. vitality in addition to photovoltaic photo voltaic. Ormat’s present whole era portfolio is 1,500 MW, with a geothermal and photo voltaic era portfolio of 1,230 MW unfold internationally in the US, Kenya, Guatemala, Indonesia, Honduras and Guadeloupe, and a 270 MW vitality storage portfolio positioned in the US.

FORWARD-LOOKING STATEMENTS

Info offered on this press launch might comprise statements concerning present expectations, estimates, forecasts and projections concerning future occasions which might be “forward-looking statements” as that time period is outlined within the Personal Securities Litigation Reform Act of 1995. forward-looking statements embody statements concerning the consummation of the providing. Precise future outcomes might differ materially from these projected resulting from sure dangers and uncertainties and different dangers described below “Danger Elements” as described in Ormat’s Annual Report on Kind 10-Okay filed with the Securities and Alternate Fee (SEC) on February 23. , 2024, in addition to in Ormat’s subsequent quarterly studies on Kind 10-Q and annual studies on Kind 10-Okay which might be filed occasionally with the SEC.

These forward-looking statements are made solely as of the date hereof and, besides as required by regulation, Ormat undertakes no obligation to replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case.