NEW YORK, Jan. 15, 2014 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the "Company") (NYSE MKT:ORC) announced today that it has commenced a public offering of 1,500,000 shares of its common stock. The Company also plans to grant the underwriters a 30-day option to purchase up to an additional 225,000 shares of common stock on the same terms and conditions to cover over-allotments, if any. All of the shares in the public offering are being offered by the Company.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), and Oppenheimer & Co. Inc. are joint book running managers for the offering.
A registration statement relating to the shares of common stock to be issued and sold in the public offering has been filed with the United States Securities and Exchange Commission (the "SEC") but has not yet been declared effective. The shares of common stock to be issued and sold in the public offering may not be sold nor may offers to buy be accepted prior to the registration statement being declared effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of such common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of these securities will be made only by means of a prospectus, a copy of which may be obtained by contacting Ladenburg Thalmann & Co. Inc., Attn: Syndicate Department, 58 South Service Road, Suite 160, Melville, NY 11747, or by emailing email@example.com (telephone number 1-800-573-2541).
About Orchid Island Capital, Inc.
Orchid Island Capital, Inc. is a specialty finance company that invests in Agency RMBS that are either traditional pass-through Agency RMBS or structured Agency RMBS. Orchid Island Capital, Inc. has elected to be taxed as a real estate investment trust for federal income tax purposes.
Forward Looking Statements Disclaimer
This press release contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including with regard to the Company's planned public offering of common stock. Forward-looking statements typically are identified by use of the terms such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions. Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. No assurance can be given that the offering discussed above will be consummated on the terms described or at all. Consummation and the terms of the offering are subject to numerous possible events, factors and conditions, many of which are beyond the control of the Company and not all of which are known to us. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect us. Except as required by law, we are not obligated to, and do not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Orchid Island Capital
Vero Beach, Florida, UNITED STATES
Day's Range: 14.29-14.43
Previous Close: 14.28
Market Cap: 139.98M
Day's Volume: 535,963
Orchid Island Capital, Inc.