Orchid Island Capital Announces Closing of Sale of Shares Pursuant to Full Exercise of Underwriters' Overallotment Option

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| Source: Orchid Island Capital

NEW YORK, April 11, 2014 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the "Company") (NYSE MKT:ORC) announced today the closing of the sale of 480,000 shares of its common stock for net proceeds of $5,696,640 pursuant to the full exercise of the underwriters' overallotment option granted in connection with the Company's public offering that closed on March 24, 2014. All of the shares in the public offering, including the shares sold pursuant to the overallotment option, were offered by the Company. The shares are listed in the NYSE MKT under the symbol "ORC."

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., acted as book running manager for the offering. Mitsubishi UFJ Securities (USA), Inc. and Oppenheimer & Co. Inc. acted as co-lead managers for the offering, and Aegis Capital Corp., Maxim Group LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc., acted as co-managers for the offering. A copy of the final prospectus may be obtained by contacting Ladenburg Thalmann & Co. Inc., 570 Lexington Ave., 11th Floor, New York, NY, 10022, or by email at prospectus@ladenburg.com.

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.