BIMINI CAPITAL MGMT INC A - BMNM STOCK NEWS

Bimini Capital Management, Inc. (OTCQB:BMNM) has announced the release date for its second-quarter 2021 financial results, set for August 12, 2021, after market close. An earnings conference call will follow on August 13, 2021, at 10:00 AM ET, where participants can access the live audio webcast. Bimini specializes in asset management, focusing on residential mortgage-related securities and manages Orchid Island Capital, a publicly traded REIT, through its subsidiary, Bimini Advisors Holdings.

Bimini Capital Management (OTCQB: BMNM) has completed its modified Dutch auction tender offer to buy up to $2.2 million in shares of its Class A common stock, which ended on July 2, 2021. A total of 812,879 shares were accepted at a price of $1.85 each, totaling approximately $1.5 million. This repurchase represents about 7.0% of the total outstanding shares as of July 1, 2021. Post-offer, Bimini Capital will have approximately 10,795,676 shares outstanding. Payments will be made according to legal requirements.

Bimini Capital Management (OTCQB: BMNM) has announced the preliminary results of its modified Dutch auction tender offer, aiming to purchase up to $2.2 million of its Class A common stock. The tender offer expired on July 2, 2021. Preliminary counts indicate that 812,780 shares were properly tendered at a price of $1.85 per share, totaling approximately $1.5 million. This acquisition represents about 7.0% of the outstanding shares as of July 1, 2021. The final number of shares and purchase price will be confirmed post-guaranteed delivery period.

Bimini Capital Management, Inc. (OTCQB: BMNM) revised its modified Dutch auction tender offer to purchase up to $2.2 million of its Class A common stock. The price range for the shares is now set between $1.85 and $1.65, unchanged from previous amounts. The expiration date for this offer is extended to 5:00 p.m. on July 2, 2021. If fully subscribed, this could lead to a repurchase of 10.2% to 11.5% of outstanding shares. Existing tenders prior to the price range amendment are invalidated, necessitating a new submission by stockholders wishing to participate.

Bimini Capital Management, Inc. (OTCQB: BMNM) has initiated a modified Dutch auction tender offer to buy back up to $2.2 million worth of its Class A common stock, priced between $1.50 and $2.00 per share. The tender offer, which is not contingent on minimum shares being tendered, commenced following a closing share price of $1.38 on May 26, 2021, and will expire on June 30, 2021. The offer details are being filed with the SEC and distributed to shareholders. Stockholders are advised to consider their financial situations before participating.

Bimini Capital Management (OTCQB:BMNM) reported net income of $1.3 million for Q1 2021, with $0.11 earnings per share and a book value per share of $3.08. Advisory service revenues rose 11% from Q4 2020 and 17% year over year. The company's Agency RMBS portfolio saw a 12% increase, despite generating negative returns due to rising interest rates. Bimini's shareholder equity improved by $50.9 million, buoyed by capital raises from Orchid Island. Management remains optimistic about future growth amid a recovering economy.

Bimini Capital Management (OTCQB:BMNM) will announce its Q1 2021 financial results on May 13, 2021, after market close. An earnings conference call is scheduled for May 14, 2021, at 10:00 AM ET. Interested participants can obtain dial-in details through the provided registration link. Bimini specializes in managing assets, focusing on residential mortgage-related securities from Fannie Mae, Freddie Mac, and Ginnie Mae. The company also externally manages Orchid Island Capital, a publicly-traded REIT, overseeing its investment strategies and daily operations.

Bimini Capital announced a net income of $12.1 million, or $1.04 per share, for the fourth quarter of 2020. The company reported an income tax benefit of $10.7 million and a book value per share of $2.97 as of December 31, 2020. Despite a 52% drop in interest income, reduced borrowing costs led to a 9% reduction in net interest income. The investment strategy in Agency MBS paid off, allowing a revenue increase of 8% against 2019. Advisory service revenues also saw a 12% rise as Orchid Island Capital's equity base grew.

Bimini Capital Management (OTCBB:BMNM) will announce its fourth quarter 2020 results post-market close on March 11, 2021. An earnings conference call is scheduled for March 12, 2021, at 10:00 AM ET, accessible through a registration link. The live audio webcast will be available on the company’s investor relations website, with an archive until April 12, 2021. Bimini primarily invests in residential mortgage-related securities and manages Orchid Island Capital, a REIT, through its subsidiary, Bimini Advisors.