UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
Form
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported): March 11,
2010
Bimini
Capital Management, Inc.
(Exact
Name of Registrant as Specified in Charter)
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Maryland
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001-32171
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72-1571637
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(State
or Other Jurisdiction of Incorporation)
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(Commission File
Number)
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(IRS
Employer Identification No.)
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3305
Flamingo Drive, Vero Beach, Florida 32963
(Address
of Principal Executive Offices) (Zip Code)
Registrant’s
telephone number, including area code (772) 231-1400
N/A
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
8.01. OTHER EVENTS.
On March
11, 2010, Bimini Capital Management, Inc., (the “Company”) issued a press
release announcing that, in connection with its previously announced 1-for-10
reverse stock split, the Company had been assigned a new stock symbol, “BMNMD.”
This new symbol takes effect at the open of business on March 12,
2010. A copy of the press release is filed herewith as Exhibit 99.1
and is incorporated by reference herein.
ITEM
9.01. EXHIBITS.
(d) Exhibits
Exhibit 99.1 ― Press Release of Bimini
Capital Management, Inc. dated March 11,
2010.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Date:
March 11, 2010
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BIMINI
CAPITAL MANAGEMENT, INC.
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By:
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/s/
Robert E. Cauley
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Robert
E. Cauley
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Chairman
and Chief Executive Officer
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Exhibit
99.1
BIMINI
CAPITAL MANAGEMENT ANNOUNCES
NEW
STOCK SYMBOL – “BMNMD”
VERO BEACH, Fla. (March
11, 2010) - Bimini Capital Management, Inc. (OTCBB:BMNM) ("Bimini Capital" or
the "Company"), a real estate investment trust ("REIT"), today announced
that all steps have been completed for the previously announced 1-for-10
reverse stock split of its Class A common stock, Class B common stock and Class
C common stock. In connection with the reverse stock split, the Company has been
assigned a new stock symbol. Beginning March 12, 2010, the Company’s Class A
common stock will be reported on the OTC Bulletin Board under the new stock
symbol “BMNMD.” The Company's shares were previously quoted on the OTC Bulletin
Board under the stock symbol “BMNM.” The Company's transfer agent will be
sending shareholders information and instructions on how to exchange their
present shares for post-split shares of the Company’s Class A common stock,
Class B common stock and Class C common stock.
The new
stock symbol, “BMNMD”, will remain in effect for twenty (20) business days
only. The stock symbol will revert back to the current symbol,
“BMNM”, on Friday, April 9, 2010.
About
Bimini Capital Management, Inc.
Bimini Capital Management, Inc. is a
REIT that invests primarily in, but is not limited to, residential
mortgage-related securities issued by the Federal National Mortgage Association
(Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the
Government National Mortgage Association (Ginnie Mae). Its objective is to earn
returns on the spread between the yield on its assets and its costs, including
the interest expense on the funds it borrows.
Statements herein relating to matters
that are not historical facts are forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. The reader is cautioned that
such forward-looking statements are based on information available at the time
and on management's good faith belief with respect to future events, and are
subject to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in such forward-looking
statements. Important factors that could cause such differences are described in
Bimini Capital Management, Inc.'s filings with the Securities and Exchange
Commission, including Bimini Capital Management, Inc.'s most recent Annual
Report on Form 10-K or Quarterly Report on Form 10-Q. Bimini Capital Management,
Inc. assumes no obligation to update forward-looking statements to reflect
subsequent results, changes in assumptions or changes in other factors affecting
forward-looking statements.
CONTACT:
Bimini
Capital Management, Inc.
Robert E.
Cauley, 772-231-1400
Chairman
and Chief Executive Officer
www.biminicapital.com