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This paper proposes a geometry-based statistical model for wideband multiple-input-multiple-output (MIMO) mobile-to-mobile (M-to-M) shallow-water acoustic (SWA) multipath fading channels. Based on the reference model, the corresponding MIMO time-frequency correlation function, Doppler power spectral density, and delay cross-power spectral density are derived. These statistics are important tools for the design and performance analysis of MIMO M-to-M SWA communication and sonar systems. Finally, the derived statistics are compared with the experimentally obtained channel statistics, and close agreement is observed.