Ormat Technologies’ $307 Million Follow-On Offering


White and Case acted as New York counsel to Ormat Technologies, while Davis Polk advised the joint book-running managers and representatives of the several underwriters in the offering.

Ormat Technologies, Inc. completed its $307 million public offering of 4,150,000 shares of common stock. The common stock is listed on the New York Stock Exchange and the Tel Aviv Stock Exchange under the symbol “ORA.”

J.P. Morgan Securities LLC, BofA Securities, Inc., UBS Securities LLC, HSBC Securities (USA) Inc., Cowen and Company, LLC, Oppenheimer & Co. Inc., and Roth Capital Partners, LLC acted as underwriters for the offering.

Ormat is a leading vertically integrated company that is primarily engaged in the geothermal and recovered energy power businesses. Ormat also leveraged its core capabilities and global presence to expand its activity into the solar photovoltaic and energy storage and management services business.

The Davis Polk corporate team included partners Michael Kaplan (Picture) and Yasin Keshvargar and associate Jacqueline Marino. Counsel Leslie J. Altus and associate Tomislava Dragicevic provided tax advice. Partner Pritesh P. Shah and associate Yana Kipnis provided intellectual property advice. Counsel David A. Zilberberg and associate Cristina Harshman provided environmental advice.

Involved fees earner: Leslie Altus – Davis Polk & Wardwell; Tomislava Dragicevic – Davis Polk & Wardwell; Cristina Harshman – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Yasin Keshvargar – Davis Polk & Wardwell; Yana Kipnis – Davis Polk & Wardwell; Jacqueline Marino – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell; David Zilberberg – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Securities; Cowen and Company; HSBC Securities; J.P. Morgan Securities LLC; Oppenheimer & Co; Roth Capital Partners, LLC; UBS Securities LLC;

Author: Ambrogio Visconti