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Orchid Island Capital, Inc. (NYSE:ORC), a $1.16 billion market cap company currently trading at $7.64, announced Monday it has entered into an equity distribution agreement that allows the company to offer and sell up to $500 million of its common stock through at-the-market offerings. According to InvestingPro data, the company maintains a notable 19.65% dividend yield. The agreement was made with Bimini Advisors, LLC and sales agents J.P. Morgan Securities LLC, BTIG, LLC, Citizens JMP Securities, LLC, and JonesTrading Institutional Services LLC.
According to a statement included in the SEC filing, shares may be sold from time to time directly on the New York Stock Exchange, through other market makers, or in negotiated transactions, including block trades. The sales agents will receive compensation of up to 2.0% of the gross proceeds from shares sold under the agreement. Orchid Island Capital is not obligated to sell any shares and may suspend the offering at any time.
The shares will be issued under the company’s existing shelf registration statement on Form S-3ASR. The company filed a related prospectus supplement with the Securities and Exchange Commission on Monday.
The sales agents and their affiliates have previously provided, and may continue to provide, investment banking and brokerage services to Orchid Island Capital, for which they have received and may receive customary fees and commissions.
This information is based on a press release statement included in the company’s Form 8-K filing with the SEC.
In other recent news, Orchid Island Capital reported strong financial results for the third quarter of 2025, surpassing both earnings and revenue expectations. The company achieved an earnings per share (EPS) of $0.53, which was a significant increase from the anticipated $0.22. This marked a 140.91% surprise over analyst estimates. Revenue also exceeded forecasts, reaching $26.92 million, compared to the expected $4.38 million. These developments highlight Orchid Island Capital’s robust performance in the recent quarter.
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