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Residential mortgage REIT Orchid Island Capital withdraws IPO

August 4, 2011
ORC

Orchid Island Capital, a newly-formed specialty finance REIT that had initially planned to raise $82.5 million in proceeds to establish a portfolio of residential mortgage-backed securities, withdrew its plans for an IPO on Thursday citing unfavorable market conditions. Barclays Capital and JMP Securities had been selected as the lead underwriters on the deal.