Ormat Announces Pricing of Public Offering of Common Stock on Behalf of Stockholder Orix Corporation
Portfolio Pulse from
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 12, 2024 | 4:30 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 90