Real estate investment trust Orchid Island Capital priced its initial public offering at $15, according to Renaissance Capital.
The company raised $35 million by offering 2.4 million shares within the range of $14 to $16.
Orchid focuses primarily on investments in agency mortgage-backed securities. The company will list on the New York Stock Exchange under the symbol ORC.
Ladenburg Thalmann and Oppenheimer & Co. acted as lead managers on the deal, Renaissance Capital noted.
At the beginning of February, Orchid set its IPO terms.
The company attempted to convert to a REIT, but failed to do so in 2012.