Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 1392

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 8
Chunk 1392
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 was
received on December 27, 2023. The issuance was considered as a nominal issuance, in substance a recapitalization transaction, which
was recorded and presented retroactively. On January 28, 2024, a total of 225,000 ordinary shares were forfeited by the Sponsors as the
underwriters did not exercise their over-allotment option.

As
of December 31, 2024 and 2023, there were 1,732,500 and 1,957,500 ordinary shares issued and outstanding, respectively, excluding the
3,709,011 and 6,000,000 ordinary shares subject to possible redemption, which are presented as temporary equity.

Rights
— Except in cases where the Company is not the surviving company in a business combination, each holder of a right will
automatically receive one-tenth (1/10) of one ordinary share upon consummation of the initial Business Combination. The Company will
not issue fractional shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole
share or otherwise addressed in accordance with the applicable provisions of Cayman law. In the event the Company is not the surviving
company upon completion of the initial Business Combination, each holder of a right will be required to affirmatively convert his, her
or its rights in order to receive the one-tenth (1/10) of one ordinary share underlying each right upon consummation of the business
combination. If the Company is unable to complete the initial Business Combination within the required time period and the Company will
redeem the public shares for the funds held in the trust account, holders of rights will not receive any of such funds for their rights
and the rights will expire worthless.

NOTE
8 — Fair Value Measurements

The
fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would
have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction
between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company
seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable
inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is
used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the