secwatch.observer — SEC 8-K summary
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Issuer:     Orchid Island Capital, Inc. (ORC)
CIK:        0001518621
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001518621-22-000108
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orchid Island Capital Q3 net loss $84.5M ($2.40/sh); book value drops to $11.42
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- Net loss of $84.5M ($2.40 diluted EPS); net interest income $14.2M but realized/unrealized losses of $93.5M on RMBS and derivatives.
- Book value per share fell from $14.36 (June 30) to $11.42; estimated further decline to $10.60-$10.70 as of Oct 26.
- Net interest spread narrowed to 1.51% from 2.51% in Q2 as repo borrowing costs rose to 2.48% from 0.80%.
- Portfolio reduced to $3.2B from $6.5B since Dec 2021; leverage 8.5x; liquidity $219.6M (54% of equity).
- Corrected prior 8-K: share repurchase authorization total is 6,183,601 shares (18% of outstanding), not 5,046,499.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1518621/000151862122000108/0001518621-22-000108-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1518621/000151862122000108/orc8k20221027.htm
  HTML page:      https://secwatch.observer/filing/0001518621-22-000108

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer