BayFirst Financial Corp. raises $1.76M via private placement of Series C Convertible Preferred Stock

BayFirst Financial Corp.

Issued 1,760 shares of Series C Cumulative Convertible Preferred Stock at $1,000/share to 9 investors for $1.76M in gross proceeds.
Proceeds will fund operating expenses or contribute capital to BayFirst National Bank to support growth.
Shares sold in reliance on Section 4(a)(2) and Rule 506; offering terms include cumulative dividend and conversion rights.
Preferred stock preferences detailed in 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 9 investors valued at $1.760 million (effective 2023-10-31).

Action: entry
Agreement: equity purchase
Counterparty: 9 investors
Value: $1.760 million
Effective: 2023-10-31

Exact text from the filing

On October 31, 2023, BayFirst Financial Corp. (the “Company”) entered into Stock Purchase Agreements with 9 investors and, pursuant thereto, issued 1,760 shares of Series C Cumulative Convertible Preferred Stock (“Series C Preferred Stock”) at $1,000 per share, for $1.760 million in gross proceeds.

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BayFirst Financial Corp. filing history →

Source: SEC EDGAR

accession 0001649739-23-000298

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