Ormat Announces Public Offering of Common Stock on Behalf of Stockholder ORIX Corporation
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Ormat Technologies announced a secondary offering of 3.7 million shares of its common stock on behalf of ORIX Corporation. Ormat will not receive any proceeds from this sale.
December 11, 2024 | 11:15 pm
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Ormat Technologies is conducting a secondary offering of 3.7 million shares on behalf of ORIX Corporation. Ormat will not benefit financially from this transaction.
The secondary offering increases the supply of Ormat's shares in the market, which could lead to a short-term decrease in stock price due to dilution concerns, even though Ormat itself is not issuing new shares or receiving proceeds.
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IMPORTANCE 70
RELEVANCE 90