Bimini Capital Management Inc. commenced a modified Dutch auction tender offer to purchase up to $2.2 million of its class A common shares.

The per-share price will not be greater than $2.20 nor less than $2.00, in increments of 5 cents, net to the seller in cash, less any applicable withholding taxes and without interest.

Broadridge Corporate Issuer Solutions Inc. is serving as the information agent and depositary for the offer, which is set to expire at 5 p.m. ET on July 1, unless extended.