Business First Bancshares raises $72M via preferred stock private placement

Business First Bancshares, Inc.

Raised $72.0M through self-managed private placement of 7.50% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A.
Dividends: fixed 7.50% for first five years, then 3-month SOFR + 470 bps quarterly; non-cumulative.
Preferred stock qualifies as additional Tier 1 capital under regulatory guidelines.
Proceeds to support b1BANK's growth, strategic opportunities, repay holding company debt, and general corporate purposes.
Perpetual term, no mandatory redemption; redeemable at $1,000/share after Aug 31, 2027, subject to regulatory approval.

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