secwatch.observer — SEC 8-K summary
======================================

Issuer:     BayFirst Financial Corp. (BAFN)
CIK:        0001649739
Form:       8-K
Filed at:   2026-01-06T23:59:59+00:00
Accession:  0001649739-26-000003
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649739/000164973926000003/0001649739-26-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649739/000164973926000003/bafn-20251229.htm
  HTML page:      https://secwatch.observer/filing/0001649739-26-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer