IPO Profile

Bimini Mortgage Management
3305 Flamingo Drive, Suite 100, Vero Beach, Florida 32963
Tel: 772- 231-1400
Web:
Ticker: BMM
Stock Exchange: New York Stock Exchange
Shares Issued: 5,000,000.00
Price Offered: $14.50
Amount Raised: $72,500,000.00

Underwriters:
Flagstone Securities
BB&T; Capital Markets




Company Description:
We were formed in September 2003 to invest primarily in residential mortgage related securities issued by the Federal National Mortgage Association (more commonly known as Fannie Mae), the Federal Home Loan Mortgage Corporation (more commonly known as Freddie Mac) and the Government National Mortgage Association (more commonly known as Ginnie Mae). We will earn returns on the spread between the yield on our assets and our costs, including the interest expense on the funds we borrow. We intend to borrow between eight and 12 times the amount of our equity capital to attempt to enhance our returns to stockholders. We are self-managed and self-advised. We intend to elect to be taxed as a real estate investment trust, or REIT, for federal income tax purposes commencing with our taxable year ended December 31, 2003. As a REIT, we generally are not subject to federal income tax on the REIT taxable income that we distribute to our stockholders.