0001649739-23-000284.txt : 20231019 0001649739-23-000284.hdr.sgml : 20231019 20231019104943 ACCESSION NUMBER: 0001649739-23-000284 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20231018 FILED AS OF DATE: 20231019 DATE AS OF CHANGE: 20231019 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Berset Mark S CENTRAL INDEX KEY: 0001439853 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-41068 FILM NUMBER: 231333781 MAIL ADDRESS: STREET 1: 700 CENTRAL AVE CITY: SAINT PETERSBURG STATE: FL ZIP: 33701 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: BayFirst Financial Corp. CENTRAL INDEX KEY: 0001649739 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 593665079 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 700 CENTRAL AVENUE STREET 2: SUITE 102 CITY: ST PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 727-399-5600 MAIL ADDRESS: STREET 1: 700 CENTRAL AVENUE STREET 2: SUITE 102 CITY: ST PETERSBURG STATE: FL ZIP: 33701 FORMER COMPANY: FORMER CONFORMED NAME: First Home Bancorp Inc DATE OF NAME CHANGE: 20150731 4 1 wk-form4_1697726975.xml FORM 4 X0508 4 2023-10-18 0 0001649739 BayFirst Financial Corp. BAFN 0001439853 Berset Mark S 700 CENTRAL AVE ST. PETERSBURG FL 33701 1 0 0 0 0 Series C Cumulative Convertible Preferred Stock 2023-10-18 4 P 0 100 1000 A 2023-10-18 2033-10-18 Common Stock 100 I Linda Berset Irrevocable Trust Series C Cumulative Convertible Preferred Stock 2023-10-18 4 P 0 350 1000 A 2023-10-18 2033-10-18 Common Stock 350 I Mark and Linda Berset, JTWROS Series C Cumulative Convertible Preferred Stock 2023-10-18 4 P 0 150 1000 A 2023-10-18 2033-10-18 Common Stock 150 I Mark Berset Irrevocable Trust Mr. Berset acquired a total of 600 shares of Series C Cumulative Convertible Preferred Stock which were purchased in the name of three different trusts. The Series C Cumulative Convertible Preferred Stock has a liquidation preference of $1,000 per share. The holders of Series C Cumulative Convertible Preferred Stock have the right to convert such shares into shares of common stock at a conversion ratio equal to the quotient of: (i) the $1,000 liquidation preference; divided by (ii) the tangible book value per share of common stock, calculated on the basis of BayFirst Financial Corp. financial statements, as of the last day of the calendar quarter occurring prior to the date on which a holder exercises the conversion right; provided, however, that tangible book value shall be adjusted to reflect a subsequent quarter end only on the last day of the month succeeding such quarter end. /s/ Barbara Felts, Attorney-in-fact 2023-10-19