Orchid Island Capital Announces Closing of Sale of Shares Pursuant to Full Exercise of Underwriters' Overallotment Option

NEW YORK, Jan. 29, 2014 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the "Company") (NYSE MKT:ORC) announced today the closing of the sale of 270,000 shares of its common stock for net proceeds of $3,157,650 pursuant to the full exercise of the underwriters' overallotment option granted in connection with the Company's public offering that closed on January 23, 2014. All of the shares in the public offering, including the shares sold pursuant to the overallotment option, were offered by the Company. The shares are listed in the NYSE MKT under the symbol "ORC."

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., and Oppenheimer & Co. Inc. acted as joint book running managers for the offering. Mitsubishi UFJ Securities (USA), Inc. acted as lead manager for the offering, and Aegis Capital Corp., Maxim Group LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc., acted as co-managers for the offering. A copy of the final prospectus may be obtained by contacting Ladenburg Thalmann & Co. Inc., Attn: Syndicate Department, 58 South Service Road, Suite 160, Melville, NY 11747, or by emailing syndicate@ladenburg.com (telephone number 1-800-573-2541).

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.

Source:Orchid Island Capital