BayFirst raises $80M via convertible PIPE; appoints new CEO Al Rogers

BayFirst Financial Corp.

$80M PIPE of convertible preferred stock; converts to ~22.9M common shares at $3.50 per share.
Rights offering for existing shareholders; special shareholder meeting set for July 14, 2026.
Al Rogers appointed CEO of BayFirst National Bank (regulatory approvals obtained).
Kenneth R. Lehman appointed to boards of holding company and bank, subject to non-objection.
Board will resume preferred dividends and redeem Series A shares.

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