05:22 PM EDT, 03/17/2026 (MT Newswires) -- Ormat Technologies ( ORA ) said late Tuesday that it intends to offer $600 million in Series A and $150 million in Series B convertible senior notes due 2031 through private placements to qualified institutional investors.

Ormat ( ORA ) said it expects to grant initial buyers a 13-day option to buy up to an additional $90 million and $22.5 million of Series A and B notes, respectively.

The company said the proceeds, along with cash on hand, will be used to fund partial repurchases of its 2027 convertible notes, up to $25 million in stock buybacks, and for general corporate purposes.

The company's shares were down 2.8% in after-hours activity.