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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

offering.

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.