BayFirst Financial Corp. announced that it has entered into a securities purchase agreement to issue 1,995 shares of Series C Cumulative Convertible Preferred Stock at a price of $1,000 per share for the gross proceeds of $1.995 million on October 18, 2023. The transaction will include participation from 12 investors.

The Company issued the shares in reliance on the exemption from registration set forth in Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506 promulgated thereunder.