Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 641

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 4
Chunk 641
---
. On the date of closing of the IPO, no amounts were outstanding
under the Promissory Note and the Promissory Note then expired upon the consummation of the IPO.

As
of December 31, 2024, no promissory note was issued to related party.

Due
to Related Party

The
Sponsors paid certain formation, operating or deferred offering costs on behalf of the Company. These amounts were due on demand and
non-interest bearing, which was fully repaid upon closing of the IPO on December 19, 2023. As of December 31, 2024 and 2023, amount due
to related party was $60,000 and $10,000 for the administration service fee, respectively.

Accounting
Service Agreement

The
Company has engaged Ascendant Global Advisors, Inc., a related part of the Sponsors, to assist in preparing quarterly and annual financial
statements. The Company has agreed to pay for such services at a fixed quarterly rate of $5,250 each quarter. For the year ended December
31, 2024 and during the period from February 16, 2023 (inception) through December 31, 2023, service fees of $21,000 and $0 have been
incurred for these services.

     F-13 

NOTE
6 — COMMITMENTS AND CONTINGENCIES

Registration
Rights

The
holders of the Founder Shares, Private Placement Units, securities underlying the unit purchase option (“UPO”), and Units
that may be issued upon conversion of working capital loans (and all underlying securities) will be entitled to registration rights pursuant
to a registration rights agreement requiring the Company to register such securities for resale. Subject to certain limitations set forth
in such agreement, the holders of these securities will be entitled to make up to three demands, excluding short form registration demands,
that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect
to registration statements filed subsequent to completion of a Business Combination and rights to require the Company to register for
resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company
will not be required to effect or permit any registration or cause any registration statement to become effective until the securities
covered thereby are released from their lock-up restrictions. The Company will bear the expenses incurred in connection with the filing
of any such registration statements.

Underwriting
Agreement