Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 474

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1C
Chunk 474
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designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors.
As of December 31, 2024 and 2023, there were no preferred shares issued or outstanding.

Ordinary
Shares — The Company is authorized to issue 200,000,000 ordinary shares with a par value of $0.0001 per share. Holders
of ordinary shares are entitled to one vote for each share.

On
February 23, 2023, our sponsor, Bayview Holding LP, acquired 1,437,500 founder shares for an aggregate price of $25,000. 963,125 founder
shares were transferred to our sponsor Peace Investment Holdings Limited on March 14, 2023.

     F-14 

On
December 14, 2023, the Company issued 287,500 founder shares for a 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. The payment of $100 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