BayFirst Financial Corp. Launches Rights Offering

BayFirst Financial Corp. (NASDAQ: BAFN) announced that the SEC issued a Notice of Effectiveness on August 31, 2026, for its Form S-1 registration, enabling a rights offering to existing shareholders.

Rhea-AI Summary

BayFirst Financial Corp. (NASDAQ: BAFN) announced that the SEC issued a Notice of Effectiveness on August 31, 2026, for its Form S-1 registration, enabling a rights offering to existing shareholders. According to BayFirst, shareholders of record as of May 12, 2026, may subscribe for up to 4,108,072 new common shares at $3.50 per share, as detailed in the final prospectus filed September 1, 2026 under Rule 424(b)(3). The company has engaged Regan & Associates as information agent. BayFirst, parent of BayFirst National Bank, reported $1.13 billion in total assets as of June 30, 2026.

Positive

• Rights offering up to 4,108,072 shares at $3.50 to existing shareholders of record
• Form S-1 declared effective by the SEC on August 31, 2026
• Total assets of $1.13 billion as of June 30, 2026

Negative

• Potential shareholder dilution from issuance of up to 4,108,072 new common shares

News Explained

The offering is underway, but no final share count or proceeds raised are disclosed; dilution remains conditional on eligible-holder participation.

BayFirst is sending subscription materials for its rights offering, and issuing the full 4,108,072 offered shares would increase the share count and reduce existing holders’ percentage ownership absent offsetting participation.

An effective Form S-1 registers securities for sale but does not itself complete a sale; because the company says subscription materials are being sent, the disclosure establishes an active offering rather than completed issuance. The release reports no final share count or proceeds raised, leaving the completed financing size unresolved.

Argus Sep 1 session 19 alerts

+10.00% close to close 2.2x rel. volume Open Argus

Details

Market move: BAFN +10.00% in the Sep 1 session. public rights offering

+14.5% Peak in 2 hr 56 min

$208.96M Market Cap

On Sep 1, the day this news came out, BAFN closed 10.00% above the previous close. Argus tracked a peak move of +14.5% during that session. Our momentum scanner recorded 19 alerts for this stock that day. Relative volume reached 2.2x the daily average during tracking.

Data tracked by StockTitan Argus for the Sep 1 session.

Key Figures

Notice of Effectiveness: August 31, 2026 Offering Size: Up to 4,108,072 shares Subscription Price: $3.50 per share +4 more

Notice of Effectiveness

August 31, 2026

Form S-1 Registration

Offering Size

Up to 4,108,072 shares

Rights offering

Subscription Price

$3.50 per share

Rights offering

Record Date

May 12, 2026

Eligible shareholders

Prospectus Filing Date

September 1, 2026

Rule 424(b)(3)

Total Assets

$1.13 billion

As of June 30, 2026

Banking Offices

Eleven

Tampa Bay-Sarasota region

Historical Context

5 past events · Latest: Aug 13

5 events

1. Aug 13

   Q2 earnings

   24h Move

   -0.8%

   Net loss and asset-resolution expenses outweighed improved capital ratios in second-quarter results.

2. Jul 28

   Earnings rescheduling

   24h Move

   +0.7%

   Results were rescheduled amid restatement work and statements investors were told not to rely upon.

3. Jul 15

   Asset plan restatement

   24h Move

   +0.7%

   Loan adjustments and restatements revised prior-period earnings, provisions, and net interest income.

4. Jun 30

   Earnings scheduling

   24h Move

   +2.7%

   Company scheduled second-quarter results and a conference call for specified July dates.

5. Apr 30

   Capital raise

   24h Move

   -23.5%

   Capital raise accompanied first-quarter loss and mandatorily convertible preferred-stock terms.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

rights offering, notice of effectiveness, form s-1 registration, rule 424(b)(3), +1 more

5 terms

rights offering financial

"BayFirst Financial Corp. Launches Rights Offering"

A rights offering is a way for a company to raise additional money by giving existing shareholders the opportunity to buy more shares at a discounted price before they are offered to the public. It’s similar to a special sale where current owners get the first chance to buy extra items at a lower cost, allowing them to increase their investment if they choose. This process matters to investors because it can affect the value of their holdings and their ability to buy new shares at favorable terms.

View in glossary

notice of effectiveness regulatory

"the SEC issued a Notice of Effectiveness for the Company's Form S-1 Registration."

A notice of effectiveness is an official confirmation from a regulator that a company’s registration statement, prospectus, or similar filing is legally active and may be used to offer or sell securities. It matters to investors because it clears the way for a company to issue new shares or other securities—like a permit that lets a fundraiser start—and can change supply, ownership stakes, and short-term market activity.

form s-1 registration regulatory

"the SEC issued a Notice of Effectiveness for the Company's Form S-1 Registration."

A Form S-1 registration is a formal disclosure document a company files with the U.S. Securities and Exchange Commission when offering securities to the public, most commonly for an initial public offering. It contains audited financial statements, business description, risk factors, management background and how the proceeds will be used, so investors can review the company’s important facts and risks—much like reading a detailed product manual before deciding to buy.

rule 424(b)(3) regulatory

"filed on September 1, 2026 with the SEC pursuant to Rule 424(b)(3)."

Rule 424(b)(3) is a U.S. Securities and Exchange Commission filing rule that governs how updated prospectus information about a securities offering is formally added to an existing registration statement. For investors, seeing a 424(b)(3) filing means the company has officially recorded new offering details – like the number of shares, pricing range or other terms – so it’s a reliable place to check the latest, legally required disclosures; think of it as the official addendum to a product manual that must be filed before the product is sold.

subscription rights financial

"eligible shareholders who wish to exercise their subscription rights are being sent."

Subscription rights are short-term privileges given to existing shareholders to buy additional new shares before the general public, typically at a set price and in proportion to their current holdings. Think of it as getting a coupon for first dibs on extra slices of a pizza so your share of the pie doesn’t shrink; exercising them can be a cheaper way to maintain your ownership and voting power, while ignoring them can reduce your stake and potential future earnings.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ST. PETERSBURG, Fla., Sept. 01, 2026 (GLOBE NEWSWIRE) -- BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or “Company”), parent company of BayFirst National Bank announced that on August 31, 2026, the Securities and Exchange Commission (the “SEC”) issued a Notice of Effectiveness for the Company’s Form S-1 Registration. Pursuant to the final prospectus contained therein, the Company is offering shareholders of record as of May 12, 2026, up to 4,108,072 shares of common stock at a price of $3.50. Additional information regarding the rights offering can be found in the final prospectus filed on September 1, 2026 with the SEC pursuant to Rule 424(b)(3).

“We are excited for the next step in the recapitalization of the Company,” stated Scott McKim, Chief Financial Officer. “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.”

About BayFirst Financial Corp.

BayFirst Financial Corp. is a registered bank holding company based in St. Petersburg, Florida which commenced operations on September 1, 2000. Its primary source of income is derived from its wholly owned subsidiary, BayFirst National Bank, a national banking association which commenced business operations on February 12, 1999. The Bank currently operates eleven full-service banking offices throughout the Tampa Bay-Sarasota region and offers a broad range of commercial and consumer banking services to businesses and individuals. As of June 30, 2026, BayFirst Financial Corp. had $1.13 billion in total assets.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Note: Transmitted on Globe Newswire on September 1, 2026 at 9:05 a.m. ET.

Contacts:
Alfred T. Rogers, Jr.	Scott J. McKim
Chief Executive Officer	Chief Financial Officer
727.685.2097	727.521.7085

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did BayFirst Financial (NASDAQ: BAFN) announce about its rights offering on September 1, 2026?

BayFirst Financial announced a registered rights offering to existing shareholders, allowing purchases of up to 4,108,072 common shares at $3.50 each. According to BayFirst, this follows SEC effectiveness of its Form S-1 and filing of a final prospectus on September 1, 2026.

Who is eligible to participate in the BayFirst Financial (BAFN) rights offering and at what price?

Eligible participants are BayFirst shareholders of record as of May 12, 2026. According to BayFirst, these shareholders may subscribe for new common shares at a price of $3.50 per share, up to an aggregate maximum of 4,108,072 shares in the rights offering.

When did the SEC declare BayFirst Financial’s (BAFN) Form S-1 effective for the rights offering?

The SEC issued a Notice of Effectiveness for BayFirst Financial’s Form S-1 on August 31, 2026. According to BayFirst, this effectiveness permits the company to proceed with its rights offering described in the final prospectus filed under Rule 424(b)(3) on September 1, 2026.

How many shares can BayFirst Financial (BAFN) issue in its 2026 rights offering?

BayFirst Financial may offer up to 4,108,072 shares of common stock under the rights offering. According to BayFirst, these shares are available to shareholders of record as of May 12, 2026, at a subscription price of $3.50 per share, subject to the prospectus terms.

What is the purpose of the BayFirst Financial (BAFN) rights offering in the company’s recapitalization?

BayFirst describes the rights offering as the next step in recapitalizing the company. According to BayFirst’s Chief Financial Officer, this offering follows SEC effectiveness of its registration and provides existing shareholders the opportunity to invest additional capital under defined subscription rights.

Who can BayFirst Financial (BAFN) shareholders contact with questions about the 2026 rights offering?

Shareholders can contact Regan & Associates, BayFirst’s information agent for the rights offering. According to BayFirst, eligible shareholders may direct questions to Regan & Associates at (800) 737-3426 or (212) 587-3005, as stated in the company’s September 1, 2026 announcement.