BayFirst Financial raises $2.0M via private placement of Series C Convertible Preferred Stock

BayFirst Financial Corp.

Issued 1,995 shares of Series C Cumulative Convertible Preferred at $1,000/share for $1.995M gross proceeds.
Sold to 12 investors in a private placement exempt under Section 4(a)(2) and Rule 506.
Proceeds to be used for operating expenses or capital contribution to BayFirst National Bank.
Series C Preferred carries cumulative dividend and conversion rights per the Articles of Amendment filed as Exhibit 3.1.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BayFirst Financial Corp. entered into Stock Purchase Agreements with 12 investors valued at $1.995 million in gross proceeds (effective 2023-10-18).

Action: entry
Agreement: equity purchase
Counterparty: 12 investors
Value: $1.995 million in gross proceeds
Effective: 2023-10-18

Exact text from the filing

On October 18, 2023, BayFirst Financial Corp. (the “Company”) entered into Stock Purchase Agreements with 12 investors and, pursuant thereto, issued 1,995 shares of Series C Cumulative Convertible Preferred Stock (“Series C Preferred Stock”) at $1,000 per share, for $1.995 million in gross proceeds.

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119 material agreements filed in the last 30 days. Browse all material agreements →

BayFirst Financial Corp. filing history →

Source: SEC EDGAR

accession 0001649739-23-000282

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