Bimini Capital internalizes repo funding & ops from AVM; hires Patrick Doyle

BIMINI CAPITAL MANAGEMENT, INC.

Third Amendment to Management Agreement with Orchid Island Capital effective Nov 16, 2021.
Bimini Advisors will take over repurchase agreement trading, clearing & admin services from AVM.
Orchid to pay daily repo funding fee (basis point factor in Appendix A) plus $10k/month clearing fee.
Bimini hires Patrick Doyle, effective Dec 1, 2021, to lead the internalized services.
Transition of services from AVM expected by March 31, 2022.

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