BayFirst Financial Corp Gets SEC Approval for Rights Offering

ST. PETERSBURG, Fla., Sept. 01, 2026 /CourierPR/ -- BayFirst Financial Corp., the parent company of BayFirst National Bank, has announced a significant move in its financial strategy. On August 31, 2026, the Securities and Exchange Commission (SEC) granted approval for the company's Form S-1 Registration, paving the way for a rights offering. This initiative is aimed at enhancing the company’s capital structure, enabling shareholders to purchase additional shares at a discounted price.

According to the final prospectus, BayFirst Financial Corp. is offering up to 4,108,072 shares of common stock to shareholders of record as of May 12, 2026, at a price of $3.50 per share. The additional details and subscription rights can be found in the latest prospectus filed with the SEC on September 1, 2026.

Scott McKim, Chief Financial Officer of BayFirst Financial Corp., expressed enthusiasm about the upcoming rights offering, stating, "We are excited for the next step in the recapitalization of the Company. This move will help strengthen our financial position and provide shareholders with an opportunity to increase their ownership."

The company has also retained Regan & Associates, Inc. as its information agent for this offering. Interested shareholders can direct their questions to Regan & Associates, Inc. at (800) 737-3426 or (212) 587-3005.

BayFirst Financial Corp. is a registered bank holding company headquartered in St. Petersburg, Florida. It commenced operations on September 1, 2000, and its primary source of income comes from its wholly owned subsidiary, BayFirst National Bank, which began operations on February 12, 1999. The bank currently operates eleven full-service banking offices in the Tampa Bay-Sarasota region and provides a wide array of commercial and consumer banking services to businesses and individuals. As of June 30, 2026, BayFirst Financial Corp. reported total assets of $1.13 billion.

This rights offering is part of BayFirst Financial Corp.’s broader strategy to bolster its financial health and support continued growth. Shareholders are encouraged to review the final prospectus for detailed information on the terms and conditions of the offering.