Orchid Island Increases Equity Distribution Agreement by $150 Million-March 2024-www.financetom.com

Orchid Island Increases Equity Distribution Agreement by $150 Million

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Orchid Island Increases Equity Distribution Agreement by $150 Million

Jul 28, 2025 9:22 AM

11:47 AM EDT, 07/28/2025 (MT Newswires) -- Orchid Island Capital ( ORC ) said Monday it amended its equity distribution agreement with several sales agents to increase the total number of shares to be sold by $150 million.

To date, Orchid said it has sold approximately 34.5 million shares for gross proceeds of around $266.5 million of the $350 million stated under the original agreement. After the increase in the amendment, Orchid may sell shares up to around $233.5 million, according to a regulatory filing.

The transactions under the agreement, which was made with Bimini Advisors, are defined as "at the market" offerings, the company said.

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