---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-26-000025"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2026-05-05T23:59:59+00:00"
generated_at: "2026-05-14T23:24:35.111494+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- accession: 0001649739-26-000025
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2026-05-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973926000025/0001649739-26-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973926000025/bafn-20260501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-26-000025
- JSON: https://secwatch.observer/filing/0001649739-26-000025.json
- Plain text: https://secwatch.observer/filing/0001649739-26-000025.txt

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