Orchid Island Capital reports plans to price IPO of its common stock

Proceeds used for investing in residential mortgage-backed securities

By Devika Patel

Knoxville, Tenn., Oct. 22 - Orchid Island Capital, Inc. will price its initial public offering of common stock, according to a Form S-11 filed Monday with the Securities and Exchange Commission. The deal will have a 45-day greenshoe.

Ladenburg Thalmann & Co. Inc. is assisting.

Proceeds will be invested in residential mortgage-backed securities.

Based in Vero Beach, Fla., Orchid is a specialty finance company that invests in residential mortgage-backed securities.

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