Orchid Island Capital, Inc.
(NYSE:ORC) announced that it has filed a
prospectus supplement under which it may from time to time sell up to $100 million of shares of its common stock through an at-the-market program. The shares of common stock may be offered through Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial
Services Inc. and Mitsubishi UFJ Securities (USA),Inc., as sales agents.
Sales are anticipated to be made primarily in transactions that are deemed to be “at-the-market” offerings, including sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange. Sales also may be made in negotiated
The Company intends to add the net proceeds from sales of the shares of common stock under the program to its general corporate funds, which it may use for new investments in accordance with its
investment policy in place at the time of such sales, to repay
indebtedness or other general corporate purposes.
The shares of common stock sold under the program will be offered under the Company’s existing shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (“SEC”). The offering of these shares under the program will be made
only by means of a prospectus supplement and accompanying base prospectus, which will be filed with the SEC.