VERO BEACH, Fla., May 13, 2013 (GLOBE NEWSWIRE) -- Bimini Capital Management, Inc. (OTCBB:BMNM), a real estate investment trust ("REIT"), today announced results of operations for the three month period ended March 31, 2013. Discussions related to the "Company," refer to the consolidated entity, including Bimini Capital, our wholly-owned subsidiaries, and our consolidated Variable Interest Entity ("VIE"). References to "Bimini Capital," the "Parent," and the "registrant" refer to Bimini Capital Management, Inc. as a separate entity. First Quarter 2013 Highlights
- Net loss of $2.8 million attributed to Bimini Capital, or $0.26 per common share.
- Book value per share of $0.10
- MBS portfolio remains 100% invested in agency MBS
- Completed initial public offering of Orchid Island Capital, Inc., raising $35.4 million
- Company to discuss results on Wednesday, May 15, 2013, at 10:00 AM ET
- 1/12 of 1.5% of the first $250,000,000 of Orchid's equity, as defined in the management agreement;
- 1/12 of 1.25% of Orchid's equity that is greater than $250,000,000 and less than or equal to $500,000,000; and
- 1/12 of 1.00% of Orchid's equity that is greater than $500,000,000.