Bimini Capital Management Inc.

• Public
• US

Dow Jones Description

The Company commenced operations in December 2003 and invests primarily in residential mortgage related securities issued by Fannie Mae, Freddie Mac and Ginnie Mae. It earns returns on the difference between the interest income on its assets and its costs, including the interest expense on the funds it borrows. It intends to borrow between eight and 12 times the amount of its equity capital to attempt to enhance its returns to stockholders. It is self-managed and self-advised. The Company conducted private placements of its Class A Common Stock in which it raised aggregate net proceeds (after commissions and expenses) of approximately $141.7 million between December 2003 and February 2004. In September 2004, the Company completed the initial public offering of shares of its Class A Common Stock, in which it raised approximately $75.9 million in net proceeds. In December 2004, the Company completed a secondary public offering of its Class A Common Stock, in which is raised approximately $66.7 million in net proceeds.

Chairman & CEO

Number of Employees 892

Contact Information

Peer Companies

• ProLogis
• Host Hotels & Resorts Inc.
• NB Capital Corp.
• Simon Property Group Inc.
• General Growth Properties Inc.
• All Companies