Ormat plans offering | nnbw.com

Ormat plans offering

NNBW Staff

Ormat Technologies, Inc. of Sparks said last week it plans to offer 3.5 million shares of its common stock in an underwritten follow-on public


The company said it also plans to grant the underwriters led by Lehman Brothers Inc. and Goldman, Sachs & Co. a 30-day option to purchase up to 525,000 additional shares of common stock.

Ormat, a geothermal energy company, said it plans to use the proceeds for general corporate purposes including development of geo-thermal plants or the financing of acquisitions.

The stock was trading at $39.60 a share last week.