Bimini Mortgage Management Inc., Vero Beach, Fla., a real estate investment trust that invests chiefly in residential mortgage-backed securities, has announced the pricing of its initial public offering of common stock at $14.50 per share.Bimini was formed in September 2003 to invest primarily in residential MBS issued by Fannie Mae, Freddie Mac, and Ginnie Mae. The managing underwriter for the offering is Flagstone Securities LLC. The underwriters have been granted an option to buy up to 750,000 additional shares at the IPO price to cover any overallotments, the REIT said. The company's class A common stock began trading Thursday on the New York Stock Exchange under the symbol BMM.
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