---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-23-000326"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:24:02.294912+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# BayFirst Financial issues $731k Series C Convertible Preferred Stock to 8 investors

## Summary
- Issued 731 shares of Series C Cumulative Convertible Preferred at $1,000/share for $731k gross proceeds.
- Shares sold to 8 accredited investors under Section 4(a)(2) and Rule 506 exemption.
- Proceeds to fund operating expenses or contribute capital to BayFirst National Bank.

## SEC filing metadata
- accession: 0001649739-23-000326
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2023-12-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000326/0001649739-23-000326-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000326/bafn-20231130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-23-000326
- JSON: https://secwatch.observer/filing/0001649739-23-000326.json
- Plain text: https://secwatch.observer/filing/0001649739-23-000326.txt

## Key facts
- Material Agreements
  BayFirst Financial Corp. entered into Stock Purchase Agreements with 8 investors valued at $731 thousand (effective 2023-11-30).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: 8 investors
  - Value: $731 thousand
  - Effective: 2023-11-30
  source text: BayFirst Financial Corp. (the “Company”) entered into Stock Purchase Agreements with 8 investors and, pursuant thereto, issued 731 shares of Series C Cumulative Convertible Preferred Stock (“Series C Preferred Stock”) at $1,000 per share, for $731 thousand in gross proceeds.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649739/000164973923000326/0001649739-23-000326-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.