Company: BAYAU
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011820
Chunk: 44

Company: Bayview Acquisition Corp
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 8
Chunk 44
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. On January 28, 2024, the underwriter did not exercise their over-allotment option and hence a total of 225,000 ordinary
shares were forfeited by the Sponsors.

The underwriter was entitled to a cash underwriting
discounts of $0.20 per Unit, or $1,200,000 in the aggregate (or $1,380,000 in the aggregate if the underwriter’s over-allotment
option is exercised in full), payable upon the closing of the IPO. The cash underwriting discount of $1,200,000 was paid on December 19,
2023.

The underwriter will be entitled to a deferred commission
of $0.35 per Unit, or $2,100,000 in the aggregate. The deferred commission will be paid to the underwriters from the amounts held in the
escrow trust account solely in the event that the Company completes a business combination, subject to the terms of the underwriting agreement.
The deferred underwriting commission was reported as non-current liability on the balance sheet dated March 31, 2025.

Unit Purchase Option

We have agreed to sell to Chardan and/or its designees,
for $100, an option to purchase a total of 540,000 units exercisable, in whole or in part, at $11.50 per unit (or 115% of the volume weighted
average price of the ordinary shares during the 20 trading day period starting on the trading day immediately prior to consummation of
an initial Business Combination), commencing on the consummation of our initial Business Combination, and expires five years from the
effective date of this offering. The option and the 540,000 units, as well as the 540,000 Ordinary Shares and the rights to purchase 54,000
Ordinary Shares upon the completion of an initial business combination, have been deemed compensation by FINRA and are therefore subject
to a lock-up for a period of 180 days immediately following the effective date of the registration statement of which this prospectus
forms a part or the commencement of sales in this offering pursuant to Rule 5110(e)(1) of FINRA’s Rules, during which time the option
may not be sold, transferred, assigned, pledged or hypothecated, or be subject of any hedging, short sale, derivative or put or call transaction
that would result in the economic disposition of the securities, except as permitted under FINRA Rule 5110