Orchid Island Capital Prices IPO Thursday, February 14, 3:50 PM ET
Orchid Island Capital (AMEX:ORC) announced today the pricing of its IPO of 2,360,000 shares of common stock at $15.00 per share. The shares will be listed on the NYSE MKT under the symbol "ORC." The offering is expected to close on February 20, 2013.
Ladenburg Thalmann & Company, a subsidiary of Ladenburg Thalmann Financial Services (AMEX:LTS), and Oppenheimer are joint book running managers for the offering. Mitsubishi UFJ Securities is lead manager for the offering, and Aegis Capital, Maxim Group and National Securities Corporation, a wholly owned subsidiary of National Holdings, are 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. All of the shares in the IPO are being offered by Orchid Island Capital, and the proceeds of the offering will be used to invest in Agency RMBS.
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