Orchid Island Capital, a Bimini Capital-managed REIT focused on investing in agency RMBS, announced terms for its IPO on Monday. 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. At the midpoint of the proposed range, Orchid Island Capital would command a fully diluted market value of $50 million. Orchid Island Capital, which was founded in 2010 and booked $3 million in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol ORC. Ladenburg Thalmann & Co. was originally the only underwriter listed, but the most recent filing added Oppenheimer & Co., Mitsubishi UFJ Securities, Aegis Capital, Maxim Group and National Securities as underwriters on the deal.