Orchid Island to sell 4 million common shares through public offering

Sole bookrunning manager Ladenburg Thalmann will conduct the financing

By Devika Patel

Knoxville, Tenn., March 18 - Orchid Island Capital, Inc. said it will sell 4 million common shares in its public sale with a 30-day greenshoe of 600,000 additional shares. The deal was announced Feb. 14.

Ladenburg Thalmann & Co. Inc. is the sole bookrunning manager.

Proceeds will be used to invest in mortgage-backed securities.

The real estate investment trust is based in Vero Beach, Fla.

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