other material
confidence high
sentiment neutral
materiality 0.75
BayFirst Financial Corp. shareholder approves exchange; Kenneth R. Lehman acquires 42.38% stake
BayFirst Financial Corp.
- Shareholders approved issuance of common stock upon conversion of Series D and Series E preferred (2,401,615 for, 910,047 against).
- Amendment to increase authorized common shares from 15M to 100M approved (3,239,088 for, 67,417 against).
- Kenneth R. Lehman exchanged 4,000 Series E preferred shares for 11,428,000 common shares, now holding 42.38% of outstanding.
- Lehman entitled to designate one board member; intends to serve as director on both company and bank boards.
- Special Meeting had 80.9% quorum; no adjournment needed.