Small mREIT Orchid Island Capital (ORC) has announced a new issue of preferred stock..
The company has no other preferreds or baby bonds outstanding at this time.
While this was announced late yesterday it has not yet priced–EarlyBird is hearing price talk in the 6.75-6.875% area.
The preliminary prospectus can be read here.
EarlyBird was working overtime last night and had this at 5:31 pm.