Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 1380

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 8
Chunk 1380
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 Holding LP, a Delaware limited partnership, and Peace Investment
Holdings Limited, pursuant to which, subject to the satisfaction or waiver of certain conditions set forth therein, (i) SPAC will merge
with and into Merger Sub 1, with SPAC surviving the merger in accordance with the Companies Act (As Revised) of the Cayman Islands (the
“Act”) (the “First SPAC Merger”), (ii) immediately following the First SPAC Merger, SPAC will merge with and
into Merger Sub 2, with Merger Sub 2 surviving the Merger in accordance with the Act (the “Second SPAC Merger” and together
with the First SPAC Merger, the “Initial Mergers”), and (iii) following the Initial Mergers, Merger Sub 3 will merge with
and into the Company, with the Company being the surviving entity and becoming a wholly-owned subsidiary of PubCo in accordance with
the Act (the transactions contemplated by the Merger Agreement, the “Business Combination”).

     F-7 

On
June 26, 2024, the Company entered into Amendment No. 1 to the Merger Agreement, pursuant to which all parties agreed to revise the earnout
milestones to reflect new consolidated revenue metrics. Among other things, the Amendment revises the Merger Agreement to provide that,
if the PubCo 2024 Audited Financials (as defined in the Merger Agreement) do not reflect consolidated revenue in excess of RMB 436,000,000.00
during fiscal year 2024 or the PubCo 2025 Audited Financials (as defined in the Merger Agreement) do not reflect consolidated revenues
in excess of RMB 583,000,000.00 during fiscal year 2025, but the total consolidated revenue reflected by the PubCo 2024 Audited Financials
and the PubCo 2025 Audited Financials is in excess of RMB 1,019,000,00.00, the Pro Rata Portion (as defined in the Merger Agreement)
of 6,000,000 Earnout Shares (as defined in the Merger Agreement) will be issued and delivered by PubCo to each Earnout Shareholder (as
defined in the Merger Agreement) within five (5) business days following the date of filing of the PubCo 2025 Audited Financials. Previously,
the Pro Rata Port