The Ticker
Orchid Island sets REIT IPO terms
2/5/13 5:51pm
Orchid Island Capital, a firm that invests in government-backed residential mortgage-backed securities, is attempting to convert to a real estate investment trust again, after failing to do so in 2011.
According to Renaissance Capital, the Vero Beach, FL-based company plans to raise $35 million by offering 2.4 million shares at a price range of $14 to $16.
The company makes around $3 million a year and plans to list on the NYSE under the symbol ORC.