secwatch.observer — SEC 8-K summary
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Issuer:     Business First Bancshares, Inc. (BFST)
CIK:        0001624322
Form:       8-K
Filed at:   2022-09-01T23:59:59+00:00
Accession:  0001437749-22-021664
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 3.02, 3.03, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1624322/000143774922021664/0001437749-22-021664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1624322/000143774922021664/bfbi20220831_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-021664

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