BMNM - Bimini Capital Mgmt
Bimini Capital Management, Inc. (OTC: BMNM) was incorporated in 2003 and is headquartered in Vero Beach, Florida. The company is engaged in the asset management business and operates in two segments, Asset Management and Investment Portfolio. It offers investment advisory services as well as administration and day-to-day operations services. In addition, the company invests in residential mortgage-backed securities. The company was originally named Opteum Inc. but changed its name to Bimini Capital Management, Inc. in September 2007.
On July 8, 2021 the company announced the results of a tender offer to purchase up to $2.2 million in value of shares of its Class A common stock. The offer was conducted using a “modified Dutch auction” approach. Bimini Capital accepted 812,879 shares of Class A Common Stock for purchase at a price of $1.85 per share. The total aggregate cost of the purchased shares was approximately $1.5 million, excluding fees and expenses relating to the Offer. The shares of Class A Common Stock accepted for purchase represent approximately 7.0% of Bimini Capital’s total outstanding shares of Class A Common Stock as of July 1, 2021. Based on these final numbers, following settlement of the Offer, Bimini Capital will have approximately 10,795,676 shares of Class A Common Stock outstanding.
On July 8, 2019 the company announced the results of a tender offer. 1,100,000 shares of Class A Common Stock, representing approximately 8.7% of Bimini Capital’s total outstanding shares of Class A Common Stock as of June 28, 2019, were purchase at a price of $2.00 per share, for an aggregate cost of approximately $2.2 million, The company had approximately 11,608,555 shares of Class A Common Stock outstanding after the transaction.
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