secwatch.observer — SEC 8-K summary
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Issuer:     BayFirst Financial Corp. (BAFN)
CIK:        0001649739
Form:       8-K
Filed at:   2026-05-05T23:59:59+00:00
Accession:  0001649739-26-000025
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649739/000164973926000025/0001649739-26-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649739/000164973926000025/bafn-20260501.htm
  HTML page:      https://secwatch.observer/filing/0001649739-26-000025

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