ORMAT raises $117m. in stock sale

Ormat Technologies said it sold 3.5 million shares in a public offering to raise capital to fund possible acquisitions, among other things.

Ormat Technologies said it sold 3.5 million shares in a public offering to raise capital to fund possible acquisitions, among other things. Net proceeds are estimated at $117.2 million, with the stock for sale being priced at $35.50 per share. Ormat's main business is the design, development and operation of geothermal power plants, as well as carrying out similar work in the field of recovered energy-based power plants.