BayFirst Financial Corp. has launched a rights offering that could raise approximately $14.4 million if fully subscribed, as the bank holding company moves forward with its recapitalization plan.
BayFirst is offering shareholders of record as of May 12, 2026, the opportunity to purchase up to 4,108,072 shares of common stock at $3.50 per share.
The SEC issued a Notice of Effectiveness for BayFirst’s Form S-1 registration statement on August 31, clearing the way for the offering.
BayFirst said it is distributing prospectuses and rights cards to eligible shareholders who can exercise their subscription rights under the offering.
The company has engaged Regan & Associates as information agent for the transaction.
BayFirst is the parent company of BayFirst National Bank, which operates 11 full-service banking offices across the Tampa Bay-Sarasota region and provides commercial and consumer banking services.
As of June 30, 2026, BayFirst Financial reported approximately $1.13 billion in total assets.
KEY QUOTE:
“We are excited for the next step in the recapitalization of the Company. The prospectus and rights card for eligible shareholders who wish to exercise their subscription rights are being sent. We have engaged Regan & Associates, Inc. as our information agent for this offering and eligible shareholders may direct questions to them at (800) 737-3426 or (212) 587-3005.”
Scott McKim, Chief Financial Officer of BayFirst Financial Corp.
