Renewable energy co Ormat drops on pricing secondary offering

Orix

12/12/2024 13:36

**  Shares of Ormat Technologies  ORA.N  down 4.5% at $76.61
before the bell after overnight secondary offering priced
  
    ** Geothermal and renewable energy tech firm late Weds 
offering of 3.7 mln shares sold by Orix Corp  8591.T  at $76.20,
5% discount to last sale
  
    ** Offering cuts Japanese financial services firm's holdings
to ~3 mln shares, or ~5% stake, per the 
  
    ** Reno, Nevada-based Ormat has ~60.5 mln shares outstanding
for $4.9 bln market cap
    
  
    ** Goldman Sachs sole bookrunner for offering
  
    ** 
    Through Weds close, ORA shares up ~6% YTD. Stock's 1-yr low
is $59.41 (Apr 16) and 1-yr high is $84.30 (Nov 11)
  

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))