BayFirst defers interest on $6M subnotes via PIK; defers $1.6M loan payment

BayFirst Financial Corp.

Amended $6M 4.5% subnotes due 2031: interest payments converted to PIK through June 30, 2026, increasing principal.
If not paid by June 30, 2026, Company may pay 3% of principal or add 3% to principal as penalty.
Deferred $1.6M term loan payment (6.75%) due Dec 10, 2025 to March 10, 2026.
Both amendments indicate near-term cash conservation steps; no new capital raised.

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. amended Amendment with the holders of the Company’s $6.0 million of 4.5% Fixed to Floating Subordinated Notes Due June 30, 2031 valued at $6.0 million (effective 2025-12-26).

Action: amendment
Agreement: notes offering
Counterparty: the holders of the Company’s $6.0 million of 4.5% Fixed to Floating Subordinated Notes Due June 30, 2031
Value: $6.0 million
Effective: 2025-12-26

Exact text from the filing

On December 29, 2025, BayFirst Financial Corp. (the “Company”) and the holders of the Company’s $6.0 million of 4.5% Fixed to Floating Subordinated Notes Due June 30, 2031 (the “Notes”) entered into an Amendment to the Notes (the “Amendment”), effective as of December 26, 2025.

View on SEC.gov

Browse all material agreements →

BayFirst Financial Corp. filing history →

Source: SEC EDGAR

accession 0001649739-26-000003

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.