---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-26-000003"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2026-01-06T23:59:59+00:00"
generated_at: "2026-05-16T11:32:43.438992+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001649739-26-000003
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2026-01-06T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973926000003/0001649739-26-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973926000003/bafn-20251229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-26-000003
- JSON: https://secwatch.observer/filing/0001649739-26-000003.json
- Plain text: https://secwatch.observer/filing/0001649739-26-000003.txt

## Source-grounded claims
- claim_id: 06e669861d9d97df060530300d27af1ad058678d
  claim: 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).
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649739/000164973926000003/0001649739-26-000003-index.htm

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