August 27, 2009 (FinancialWire) — Orchids Paper Products Co. (AMEX: TIS) (Current Market Cap: $139.35 Mil.) has closed an underwritten public offering of 750,000 shares of common stock at $18.50 per share.

Stephens Inc. acted as the sole underwriter for the offering. Orchids has granted the underwriter an option to purchase up to 112,500 additional shares of common stock at any time and from time to time on or prior to September 20, to cover over-allotments.

The company received net proceeds of around $12.8 million, which it plans to use for the construction of a warehouse, the purchase and installation of a new converting line, and for general corporate purposes.

Pryor, Oklahoma-based Orchids Paper Products is a manufacturer of tissue paper products serving the private label consumer market.

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