Orchid Island Capital Announces the Closing of Its IPO Thursday, February 21, 2:59 PM ET
Orchid Island Capital (AMEX:ORC) announced that it closed its previously announced IPO of 2,360,000 shares of common stock at an initial public offering price of $15.00 per share earlier today. All of the shares in the initial public offering were offered by Orchid Island Capital, Inc., and the proceeds of the offering will be used to invest in residential mortgage-backed securities the principal and interest payments of which are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae . The shares are listed on the NYSE under the symbol "ORC."
Ladenburg Thalmann and Oppenheimer acted as joint book running managers for the offering. Mitsubishi UFJ Securities acted as lead manager for the offering, and Aegis Capital , Maxim Group and National Securities Corporation, a wholly owned subsidiary of National Holdings, acted as co-managers for the offering. Orchid Island Capital has granted to the underwriters a 45-day option to purchase up to an additional 354,000 shares of common stock.
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