RENO, Nev., March 14, 2023 (GLOBE NEWSWIRE) — Ormat Technologies, Inc. OR A (“Ormat”), a leading geothermal, energy storage, solar photovoltaic and energy recovery company, announced today that it has priced its previously announced public offering of 3,600,000 common shares. The offering is expected to close on March 16, 2023, subject to the satisfaction of customary closing conditions.

Ormat has granted the underwriter a 30-day option to purchase up to 540,000 additional common shares.

Ormat intends to use the net proceeds from the Offering for general corporate purposes, including working capital and capital expenditures, and for potential acquisitions, including complementary businesses, technologies or assets.

Goldman Sachs & Co. LLC is acting as sole book-running manager for the offering. Goldman Sachs & Co. LLC may, from time to time, offer the Shares for sale directly or through agents or through brokers in one or more brokered transactions on the New York Stock Exchange over-the-counter market, negotiated transactions, or a combination thereof Methods of sale, at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to its right to refuse any order in whole or in part.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor may there be any sale of these securities in any state or other jurisdiction where such offer, solicitation or sale is permitted prior to which registration or qualification under the securities laws of such state or other jurisdiction would be unlawful.

The offering is being made pursuant to an automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on November 16, 2020. The offer may only be made by means of a base prospectus and a related prospectus. .