U.S. Geothermal Inc. Enters Into Definitive Agreement to Be Acquired by Ormat Technologies Inc. for $5.45 in Cash Per Share
US GEOTHERMAL INC (HTM)
NASDAQ:AMEX Investor Relations:
usgeothermal.com/investors.cfm
Company Research
Source: GlobeNewswire
BOISE, Idaho, Jan. 24, 2018 (GLOBE NEWSWIRE) -- U.S. Geothermal Inc. (the “Company”) (NYSE American:HTM) announced today that it has entered into a definitive merger agreement under which a wholly owned subsidiary of Ormat Technologies, Inc. (“Ormat”) (NYSE:ORA) will acquire the Company for $5.45 per share in an all cash transaction. The agreement, which has been unanimously approved by both companies’ Boards of Directors, represents a premium of approximately 28.5% to the prior day closing stock price on January 23rd, 2018. Statement by Doug Glaspey, a Founder and Chief Executive Officer of US Geothermal “We are proud that Ormat, the industry leader in geothermal development, recognized our company’s value and have confidence in their ability to successfully develop the US Geothermal asset base,” said Doug Glaspey, CEO of US Geothermal. “This transaction provides compelling value to our shareholders and is a testament to the hard work and efforts of our talented team members.”
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