Bookrunning manager Ladenburg Thalmann conducted the financing
By Devika Patel
Knoxville, Tenn., April 11 - Orchid Island Capital, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $6.02 million greenshoe in full, lifting total proceeds to $46.18 million. The deal was announced March 18 and priced for $40.16 million with the greenshoe on March 19.
The company sold 3.68 million common shares at $12.55 per share. The offering price is a 2.86% discount to $12.92, the company's closing price on March 18. Of the shares, 480,000 were part of the fully exercised greenshoe.
Ladenburg Thalmann & Co. Inc. was the bookrunning manager for the deal, which settled on March 24.
Proceeds will be used to invest in mortgage-backed securities.
The real estate investment trust is based in Vero Beach, Fla.
| Issuer: | Orchid Island Capital, Inc.
|
| Issue: | Common shares
|
| Amount: | $46,184,000, including $6,024,000 greenshoe
|
| Shares: | 3.68 million
|
| Price: | $12.55
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc.
|
| Co-lead managers: | Mitsubishi UFJ Securities (USA), Inc. and Oppenheimer & Co. Inc.
|
| Co-managers: | Aegis Capital Corp., Maxim Group LLC and National Securities Corp.
|
| Announcement date: | March 18
|
| Pricing date: | March 19
|
| Settlement date: | March 24
|
| Stock symbol: | NYSE: ORC
|
| Stock price: | $12.92 at close March 18
|
| Market capitalization: | $105.83 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
