Monitor ORA's stock price relative to the conversion price. If the stock performs well and reaches the 130% threshold, the company may redeem the notes, which could pressure the stock price. The lack of coupon on the Series B notes is favorable for the company's interest expense.
Price Chart
Executive Summary
Ormata Technologies, Inc. (ORA) has issued two series of convertible senior notes: $825 million of 1.50% Series A Notes and $175 million of 0.00% Series B Notes, both due 2031. The notes are unsecured, convertible into common stock under specified conditions, and may be redeemed by the company starting March 20, 2029, if the stock price reaches 130% of the conversion price. Holders can require repurchase upon a fundamental change. This is a routine debt financing with standard convertible note terms.
Key Financial Metrics
Key Facts
- Issued $825 million of 1.50% Series A Convertible Senior Notes due 2031
- Issued $175 million of 0.00% Series B Convertible Senior Notes due 2031
- Initial conversion rate of 7.1225 shares of common stock per $1,000 principal amount
- Optional redemption allowed on or after March 20, 2029, if stock price is at least 130% of conversion price
- Holders can require repurchase upon a fundamental change at 100% of principal plus accrued interest
Financial Impact
Raised $1 billion in debt financing, increasing total debt. No immediate equity dilution, but potential future dilution upon conversion.
Risk Factors
- Potential future equity dilution if notes are converted
- Credit risk if company's financial condition deteriorates
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-032467 |
| Document: ea028270301ex4-3.htm | 0001213900-26-032467 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 11w ago | 8-K | $107.38 $113.52 | ▲ +5.72% | ▲ +4.51% | $87.22 (−18.77%) |
May 29, 2026 21w ago | Insider Cluster | $136.61 $140.00 | ▲ +2.48% | ▲ +5.23% | $87.22 (−36.15%) |
May 27, 2026 21w ago | 144 | $137.68 $142.45 | ▲ +3.46% | ▲ +3.15% | $87.22 (−36.65%) |
May 21, 2026 22w ago | Insider Cluster | $133.46 $136.61 | ▲ +2.36% | ▲ +0.70% | $87.22 (−34.64%) |
May 15, 2026 23w ago | Insider Cluster | $129.12 $139.08 | ▲ +7.71% | ▲ +6.09% | $87.22 (−32.45%) |
May 15, 2026 23w ago | 144 | $129.12 $139.08 | ▲ +7.71% | ▲ +6.09% | $87.22 (−32.45%) |
May 6, 2026 24w ago | 8-K | $122.52 $133.39 | ▲ +8.87% | ▲ +7.37% | $87.22 (−28.81%) |
Apr 21, 2026 26w ago | DEFA14A | $107.00 $112.40 | ▲ +5.04% | ▲ +4.99% | $87.22 (−18.48%) |
Mar 31, 2026 29w ago | Press Release | $111.92 $113.48 | ▲ +1.39% | ▼ −2.55% | $87.22 (−22.06%) |
Mar 23, 2026 31w ago | 8-K | $109.14 $109.44 | ▲ +0.27% | ▲ +3.84% | $87.22 (−20.08%) |
US Market Status
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