Orchid Island Capital, Inc. Announces At-The-Market Program
August 02 2017 - 4:27PM
Orchid Island Capital, Inc. (the “Company”) (NYSE:ORC) announced
today that it has filed a prospectus supplement under which it may
from time to time sell up to $125 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.
(NYSEMKT:LTS), and MUFG Securities Americas 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 transactions. 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.
Copies of the prospectus supplement and accompanying base
prospectus related to this offering may be obtained by contacting
Ladenburg Thalmann & Co. Inc., 277 Park Avenue, 26th Floor, New
York, NY 10172, or by email at prospectus@ladenburg.com, or MUFG
Securities Americas Inc., 1221 Avenue of the Americas, 6th Floor,
New York, NY, 10020-1001, or by email at
prospectus@us.sc.mufg.jp.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the offered shares of common stock
or any other securities, nor shall there be any sale of such shares
or any other securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Orchid Island Capital, Inc.
Orchid Island Capital, Inc. is a specialty finance company that
invests in Agency RMBS that are either traditional pass-through
Agency RMBS or structured Agency RMBS. Orchid Island Capital, Inc.
has elected to be taxed as a real estate investment trust for
federal income tax purposes.
Forward Looking Statements Disclaimer
This press release contains “forward-looking statements” made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including with regard to the
Company’s potential sales of common stock under the at-the-market
program described above and the intended use of proceeds from such
sales. Forward-looking statements typically are identified by use
of the terms such as “believe,” “expect,” “anticipate,” “estimate,”
“plan,” “continue,” “intend,” “should,” “may” or similar
expressions. Forward-looking statements are based on our beliefs,
assumptions and expectations of our future performance, taking into
account all information currently available to us. No assurance can
be given that any or all of the common stock offered under the
program will be sold. Sales of the common stock under the program
will be subject to numerous possible events, factors and
conditions, many of which are beyond the control of the Company and
not all of which are known to it. All forward-looking statements
speak only as of the date on which they are made. New risks and
uncertainties arise over time, and it is not possible to predict
those events or how they may affect us. Except as required by law,
we are not obligated to, and do not intend to, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT:
Orchid Island Capital, Inc.
Robert E. Cauley,
772-231-1400
Chairman and Chief Executive Officer
www.orchidislandcapital.com
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