Certain Restricted Stock Units of Ormat Technologies, Inc. are subject to a Lock-Up Agreement Ending on 18-JAN-2021.
January 17, 2021
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Certain Restricted Stock Units of Ormat Technologies, Inc. are subject to a Lock-Up Agreement Ending on 18-JAN-2021. These Restricted Stock Units will be under lockup for 61 days starting from 18-NOV-2020 to 18-JAN-2021.
Details:
The directors, executive officers and one of significant shareholders have entered into lock-up agreements with the underwriters prior to the commencement of the offering pursuant to which each lock-up party, with limited exceptions, for a period of 60 days after the date of the prospectus, may not, without the prior written consent of J.P. Morgan Securities LLC and BofA Securities, Inc., offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of, directly or indirectly, any shares of common stock or any securities convertible into or exercisable or exchangeable for common stock.
Ormat Technologies, Inc. is a geothermal company that is engaged in geothermal and recovered energy generation (REG). The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter, a power generation unit that converts low, medium and high-temperature heat into electricity. It owns or has installed for utilities and developers worldwide, totaling approximately 3,200 megawatts (MW) of gross capacity. Its segments include Electricity Segment, Product Segment and Energy Storage Segment. Electricity segment develops, builds, owns, and operates geothermal and solar Photovoltaic (PV). Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation. Energy Storage segment owns and operates a grid connected In Front of the Meter (IFM) Battery Energy Storage System (BESS) facilities. Its portfolio includes 1,385 MW with 1,215 MW geothermal and solar generation.