Ormat Technologies Enters Material Definitive Agreement
Ticker: ORA · Form: 8-K · Filed: Dec 13, 2024 · CIK: 1296445
| Field | Detail |
|---|---|
| Company | Ormat Technologies, INC. (ORA) |
| Form Type | 8-K |
| Filed Date | Dec 13, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $76.20 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
TL;DR
Ormat signed a big deal on Dec 11th. Details TBD.
AI Summary
On December 11, 2024, Ormat Technologies, Inc. entered into a material definitive agreement. The filing does not provide specific details on the agreement's nature or any associated dollar amounts.
Why It Matters
This filing indicates Ormat Technologies has entered into a significant new agreement, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its potential impact.
Key Players & Entities
- Ormat Technologies, Inc. (company) — Registrant
- December 11, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Ormat Technologies?
The filing states that Ormat Technologies, Inc. entered into a material definitive agreement on December 11, 2024, but does not specify the details of this agreement.
Are there any financial terms or dollar amounts associated with this agreement disclosed in the filing?
No, the filing does not disclose any specific dollar amounts or financial terms related to the material definitive agreement.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on December 11, 2024.
What is the principal executive office address for Ormat Technologies, Inc.?
The principal executive offices of Ormat Technologies, Inc. are located at 6884 Sierra Center Parkway, Reno, Nevada 89511-2210.
What is the SIC code for Ormat Technologies, Inc.?
The Standard Industrial Classification (SIC) code for Ormat Technologies, Inc. is 4911, which corresponds to Electric Services.
Filing Stats: 753 words · 3 min read · ~3 pages · Grade level 11.2 · Accepted 2024-12-13 08:30:08
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share ORA The New York Stock Ex
- $76.20 — tock"), at an initial offering price of $76.20 per share. In addition, ORIX granted th
Filing Documents
- ea0224608-8k_ormat.htm (8-K) — 31KB
- ea022460801ex1-1_ormat.htm (EX-1.1) — 261KB
- ea022460801ex5-1_ormat.htm (EX-5.1) — 14KB
- ex5-1_001.jpg (GRAPHIC) — 4KB
- ex5-1_002.jpg (GRAPHIC) — 9KB
- 0001213900-24-108619.txt ( ) — 559KB
- ora-20241211.xsd (EX-101.SCH) — 3KB
- ora-20241211_lab.xml (EX-101.LAB) — 33KB
- ora-20241211_pre.xml (EX-101.PRE) — 22KB
- ea0224608-8k_ormat_htm.xml (XML) — 3KB
01 Entry
Item 1.01 Entry into a Material Definitive Agreement. On December 11, 2024, Ormat Technologies, Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Goldman Sachs & Co. LLC, as underwriter (the "Underwriter"), and ORIX Corporation ("ORIX") in connection with an underwritten secondary offering (the "Offering"), pursuant to which ORIX agreed to sell 3,700,000 shares (the "Underwritten Shares") of the Company's common stock, par value $0.001 per share (the "Common Stock"), at an initial offering price of $76.20 per share. In addition, ORIX granted the Underwriter a 30-day option to purchase an additional 555,000 shares of Common Stock (the "Option Shares" and, together with the Underwritten Shares, the "Shares"). The Offering is expected to close on or about December 13, 2024, subject to customary closing conditions. All of the Shares are being sold by ORIX, and the Company did not issue any new shares of Common Stock or receive any proceeds in connection with the Offering. The Offering is being made pursuant to the Company's automatically effective shelf registration statement on Form S-3 (Registration No. 333-283733), which was previously filed on December 11, 2024 with the Securities and Exchange Commission (the "SEC"), and a prospectus supplement, dated December 11, 2024, and accompanying prospectus, dated December 11, 2024. The Underwriting Agreement contains customary representations, warranties and agreements by the Company and ORIX and customary conditions to closing, obligations of the parties and termination provisions. Additionally, the Company and ORIX have agreed to indemnify the Underwriter against certain liabilities, including liabilities under the Securities Act of 1933, as amended, or to contribute to payments the Underwriter may be required to make because of any of those liabilities. The foregoing description of the Underwriting Agreement is qualified in its entirety by reference to the complete t
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 1.1 Underwriting Agreement, dated December 11, 2024, between Ormat Technologies, Inc., Goldman Sachs & Co. LLC, as underwriter, and ORIX Corporation. 5.1 Opinion of White & Case LLP. 23.1 Consent of White & Case LLP (included in Exhibit 5.1). 104 Cover page interactive data file (embedded within the Inline XBRL document). 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ORMAT TECHNOLOGIES, INC. Date: December 13, 2024 By: /s/ Doron Blachar Name: Doron Blachar Title: Chief Executive Officer 2