# BayFirst Financial Corp. (BAFN) — capital_raise/private_placement [completed]
Source: SEC API (secapi.ai) · situation sit_6bda9257790f3d055652 · retrieved 2026-08-16T21:07:20.413Z

## Overview
BayFirst Financial Corp. is a bank holding company that operates through its wholly owned subsidiary, BayFirst National Bank, serving consumers and small businesses in the Tampa Bay/Sarasota region.

BayFirst Financial Corp. completed a private placement on April 28, 2026, issuing 4,000 shares of Series D Mandatorily Convertible Cumulative Perpetual Preferred Stock and 4,000 shares of Series E Mandatorily Convertible Cumulative Perpetual Preferred Stock, each at $10,000 per share, for aggregate gross proceeds of $80,000,000. On July 14, 2026, all outstanding Series D and Series E Preferred Stock automatically converted into 22,856,000 shares of common stock. The Company is registering these 22,856,000 common shares for resale by the selling shareholders pursuant to a Registration Rights Agreement.

## Terms
- Counterparty: Selling shareholders (including Kenneth R. Lehman and others) · Deal value: $80.0M · Consideration: cash · Price/share: $10000

## Key dates
- Completed 2026-07-14

## Timeline
- 2026-08-13 · S-1 (0001649739-26-000056): S-1 - BayFirst Financial Corp. — *BayFirst Financial Corp. is a bank holding company that operates through its wholly owned subsidiary, BayFirst National Bank, serving consumers and small businesses in the Tampa Bay/Sarasota region.* BayFirst Financial Corp. completed a private placement on April 28, 2026, issuing 4,000 shares of Series D Mandatorily Convertible Cumulative Perpetual Preferred Stock and 4,000 shares of Series E Mandatorily Convertible Cumulative Perpetual Preferred Stock, each at $10,000 per share, for aggregate gross proceeds of $80,000,000. On July 14, 2026, all outstanding Series D and Series E Preferred Stock automatically converted into 22,856,000 shares of common stock. The Company is registering these 22,856,000 common shares for resale by the selling shareholders pursuant to a Registration Rights Agreement.
  https://www.sec.gov/Archives/edgar/data/1649739/0001649739-26-000056.txt

## Citations
- 0001649739-26-000056 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000164973926000056