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Orchid Island arranges $35 million at-the-market offering of stock
Ladenburg Thalmann and Mitsubishi UFJ Securities are agents for deal
By Devika Patel
Knoxville, Tenn., June 18 – Orchid Island Capital, Inc. negotiated a $35 million at-the-market equity distribution agreement with agents Ladenburg Thalmann & Co. Inc. and Mitsubishi UFJ Securities (USA), Inc. on June 17, according to an 8-K and prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The agents will be paid a 2% commission.
Proceeds will be used for new investments, to repay debt and for other general corporate purposes.
The real estate investment trust is based in Vero Beach, Fla.
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