Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 422

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1C
Chunk 422
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 in this Annual Report on Form 10-K.

Overview

We
are a blank check company incorporated on February 16, 2023, as a Cayman Islands exempted company for the purpose of effecting a merger,
share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, which
we refer to throughout the Registration Statement as our initial business combination. We have generated no revenues to date, and we
do not expect that we will generate operating revenues at the earliest until we consummate our initial business combination.

Results
of Operations and Known Trends or Future Events

We
have neither engaged in any operations nor generated any revenues to date. Our only activities since February 16, 2023 (inception) to
December 31, 2024, have been organizational activities and those necessary to prepare for the Initial Public Offering (the “IPO”)
described below and identifying a target company and completing the initial Business Combination. Following our IPO, we would not generate
any operating revenues until the completion of our initial business combination. We would generate non-operating income in the form of
interest income after the IPO. We expect to incur increased expenses as a result of being a public company (for legal, financial reporting,
accounting and auditing compliance), as well as for business combination expenses.

For
the year ended December 31, 2024, we had net income of $1,752,975, which primarily consisted of interest earned on marketable securities
held in trust account and bank interest income of $2,780,145, offset by formation and operating costs of $1,027,170.

For
period from February 17, 2023 (inception) through December 31, 2023, we had net income of $107,055, which primarily consisted of investment income from the trust
account.

Liquidity
and Capital Resources

Our
liquidity needs have been satisfied prior to the completion of the IPO through the capital contribution from our sponsor of $25,100 to
purchase the founder shares, and up to $300,000 in loans available from our sponsor under an unsecured promissory note. The promissory
note expired after the consummation of the IPO.

On
December 19, 2023, we consummated our IPO of 6,000,000 Units, at $10.00 per Unit, generating gross proceeds of $60,000,000.