Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 63

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1
Chunk 63
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 by a majority of our disinterested directors.
Despite our agreement to obtain an opinion from an independent investment banking firm that is a member of FINRA, or from an independent
accounting firm, regarding the fairness to our company from a financial point of view of a business combination with one or more domestic
or international businesses affiliated with our founders or their respective affiliates, potential conflicts of interest still may exist
and, as a result, the terms of the business combination may not be as advantageous to our public shareholders as they would be absent
any conflicts of interest.

  34 

Since
our founders will lose their entire investment in us if our business combination is not completed, a conflict of interest may arise in
determining whether a particular business combination target is appropriate for our initial business combination.

On
February 23, 2023, our Sponsor, Bayview Holding LP, purchased 1,437,500 Founder Shares for an aggregate purchase price of $25,000 of
which Bayview Holding LP owns 474,375 Ordinary Shares and Peace Investment Holdings Limited owns 963,125 Ordinary Shares. On December
14, 2023, the Company issued an additional 287,500 Founder Shares for consideration of $100, resulting in Bayview Holding LP holding
a total of 569,250 Founder Shares and Peace Investment Holdings Limited holding a total of 1,155,750 Founder Shares as of the date of
the Registration Statement. On January 28, 2024, 225,000 Founder Shares held by the Sponsors were forfeited because the underwriters
did not exercise their over-allotment. Prior to the initial investment in the Company of $25,000 by our Sponsors, the Company had no
assets, tangible or intangible. The number of Founder Shares issued was determined based on the expectation that such Founder Shares
would represent 25% of the outstanding shares after the IPO (excluding the private shares and shares underlying the UPO). The Founder
Shares will be worthless if we do not complete an initial business combination. In addition, our Sponsors purchased an aggregate of 232,500
Private Placement Units, at $10.00 per unit, for a purchase price of approximately $2,325,000. The Founder Shares and Private Placement
Units will be worthless if we do not complete an initial business combination. Our Initial Shareholders have agreed (A) to vote any shares
owned by them in favor of any proposed business combination and (B) not to