Filing Details

CUSIP No.  090319104

 

1.

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 [    ]

 

 

(b)

 [    ]

 

3.

SEC Use Only

 

4.

 

5.

            [   ]

 

6.

Citizenship or Place of Organization
U.S.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
1,147,417

8.

9.

Sole Dispositive Power
1,147,417

10.

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
1,147,417

 

12.

 

13.

Percent of Class Represented by Amount in Row (11)
9.1%

 

14.

Item 1.

Security and Issuer

This Amendment No. 7 to Schedule 13D relates to the Class A Common Stock, $0.001 par value per share (the "Common Stock"), of Bimini Capital Management, Inc. (the "Issuer").  The Issuer's principal executive offices are located at 3305 Flamingo Drive, Vero Beach, FL 32963.

 

Item 2.

Identity and Background

The person filing this statement is Robert J. Dwyer (the "Reporting Person"), c/o Bimini Capital Management, Inc., 3305 Flamingo Drive, Vero Beach, Florida 32963.  The Reporting Person is a director of the Issuer.

 

During the last five years, the Reporting Person has not (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

The Reporting Person is a United States citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The shares of Common Stock described in Item 4 below were acquired by the Reporting Person using personal funds.  All shares of Common Stock owned by the Reporting Person were acquired using personal funds or were issued as compensation for serving as a director of the Issuer.  No shares of Common Stock were acquired by the Reporting Person using funds or other consideration borrowed or otherwise obtained for the purpose of acquiring, holding, trading or voting such shares.

 

Item 4.

Purpose of Transaction

The Reporting Person has acquired the shares of Common Stock that are beneficially owned by him for investment purposes.  The Reporting Person may acquire additional shares of Common Stock for cash or as director's fees and may otherwise acquire or dispose of shares of Common Stock in the future.  Other than as described herein, the Reporting Person has no current plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of Item 4 of Schedule 13D.

 

Item 5.

Interest in Securities of the Issuer

The Reporting Person beneficially owns 1,147,417 shares of Common Stock, which represents approximately 9.1% of the Issuer's outstanding shares of Class A Common Stock.  The Reporting Person has the sole power to vote and dispose of all such shares.

 

On November 6, 2017, the Reporting Person acquired 5,000 shares of Common Stock at a price of $2.70 per share and 8,600 shares of Common Stock at a price of $2.72 per share in market transactions.

 

During the past 60 days the Reporting Person did not otherwise acquire or dispose of any other shares of Common Stock.

 

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

The Reporting Person continues to be a member of the Board of Directors of the Issuer and as such, may receive future director's compensation in the form of shares of Common Stock.  There are currently no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any other person with respect to any securities of the Issuer, including, but not limited to, transfer or voting of any other securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

 

Item 7.

Material to Be Filed as Exhibits

None.

 

 

Dated:  November 13, 2017

 

 

 

 

 

 

 

 

 

 

/s/ Robert J. Dwyer

 

 

 

Robert J. Dwyer