BayFirst Financial Corp. (BAFN) AI Dilution Summary

BayFirst reported cash of $139,165,000 at 2026-06-30 against estimated monthly burn of $150,667. Its most recent financing was an unregistered private placement of preferred stock, placed by Hovde Group, LLC, which closed 2026-04-28 and raised $80,000,000 gross. Dilution here is driven primarily by the 11% Series C Cumulative Convertible Preferred Stock, which has 6,446 preferred shares outstanding at a $1,000 stated value per share and a $6,446,000 aggregate liquidation preference as filed.