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0 0 0 -0.0012466505223036 -0.00267958215713527 -0.0012466505223036 0.00161921274735974 0.00154756616561819
Stock impact report

Bimini Capital Management Announces Closing of Acquisition of Tom Johnson Investment Management [Yahoo! Finance]

Orchid Island Capital, Inc. (ORC) 
Last orchid island capital, inc. earnings: 10/24 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
the “Company”) today announced that its wholly owned subsidiary, Bimini Advisors Holdings, LLC, has completed the purchase of eighty percent (80%) of the fully diluted equity interests of Tom Johnson Investment Management, LLC (“TJIM”), a privately held registered investment adviser. The purchase price paid in the transaction was $12,318,492, of which $12 million was paid in cash at the closing, with the balance to be paid on or before the first anniversary of the closing. In addition, subject to certain conditions, (1) Bimini may be required to purchase the remaining 20% of TJIM's equity interests upon the later to occur of (a) the third anniversary of the closing and (b) the principal seller ceasing to be an employee of TJIM or (2) Bimini will have the option to acquire the remaining 20% interest following the third anniversary of the closing, in either case at a purchase price to be determined. Effective as of the closing, the principal seller entered into a new three-year em Show less Read more
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