Pink sheet asset management biz buys $1.6bn Oklahoma City RIA

Asset manager Bimini Capital Management has agreed to acquire $1.6bn Oklahoma City-based RIA Tom Johnson Investment Management (TJIM).

The transaction provides a rare look at the specific financials behind a deal, given Bimini’s publicly traded status on the over-the-counter (OTC) securities market. 

Through the deal, which was revealed on Tuesday, Bimini’s RIA subsidiary, Bimini Advisors, is buying 80% of the fully diluted equity interests in TJIM. The deal is expected to close at the end of the first quarter, with Bimini paying in cash. 

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