Company: BAYAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024142
Chunk: 10

Company: Bayview Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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1,975,249
Ordinary Shares properly exercised their rights to redeem their shares for cash at a redemption price of approximately $11.05
per share, for an aggregate redemption amount of approximately $21,826,501.

From
September 2024 through May 2025, the Company issued 9 promissory notes to Oabay, each in an amount of $125,000,
to cover the expense in connection with the extension of the Business Combination, for an aggregate principal amount of $1,125,000.
On June 20, 2025, the Company issued an additional unsecured promissory note in the total principal amount of $600,000
to Oabay. Through June 30, 2025, the Company had deposited an aggregate of $1,125,000
into the trust account and $100,000 into the escrow account, pursuant to the promissory notes in connection with extensions of the
deadline to complete its initial business combination from September 19, 2024 through July 19, 2025. The $100,000 was subsequently deposited into the trust account in July 2025.

    8

Going
Concern Consideration

As
of June 30, 2025, the Company had cash of $50,675 and a working capital deficit of $2,429,558. The Company has incurred and expects to
continue to incur significant professional costs to remain as a public traded company and to incur transaction costs in pursuit of a
Business Combination. In connection with the Company’s assessment of going concern considerations in accordance with Accounting
Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going
Concern,” management believes that these conditions raise substantial doubt about the Company’s ability to continue as a
going concern. In addition, if the Company is unable to complete a Business Combination within the Combination Period and such period
is not extended, there will be a liquidation and subsequent dissolution. As a result, management has determined that such additional
condition also raises substantial doubt about the Company’s ability to continue as a going concern. The financial statements do
not include any adjustments that might result from the outcome of the uncertainty.

NOTE
2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America
(