Ormat Technologies Drops 8% After Pricing Public Offering

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Shares of geothermal company Ormat Technologies, Inc. (ORA) are falling more than 8% Thursday morning at $91.75.

Wednesday, the company priced its upsized secondary public offering of 3.75 million shares at $90.00 per share.

The shares are offered by ORIX Corporation, and Ormat will not receive any proceeds from the sale.

The offering is expected to close on November 21.

ORA has traded in the range of $60.32-$101.81 in the last 1 year.

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