BayFirst Financial Acquisition | Financial Services Deal in FL

BayFirst Financial Corp. has completed the acquisition of BayFirst Financial, a banking business in Florida, for $3.50. BayFirst Financial provides financial services through banking operations, supporting deposit and lending activities for customers in FL. The acquisition supports financial services M&A strategy by expanding BayFirst’s banking footprint and capital base in Florida acquisitions. The deal is categorized as other acquisition and is structured as a securities purchase agreement with mandatorily convertible cumulative perpetual preferred stock, Series D and Series E, plus common stock, with registration rights to follow at closing.