Company: BAYAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024142
Chunk: 58

Company: Bayview Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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 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 three months ended June 30, 2025, we had net income of $114,161, which primarily consisted of interest earned on marketable securities
held in trust account and bank interest income of $394,053, offset by formation and operating costs of $279,892.

For
the six months ended June 30, 2025, we had net income of $258,075, which primarily consisted of interest earned on marketable securities
held in trust account and bank interest income of $808,426, offset by formation and operating costs of $550,351.

For
the three months ended June 30, 2024, we had a net income of $592,289, which consists of income earned on investment held in Trust Account
of $713,793 offset by loss of $121,504 derived from formation and operating costs.

For
the six months ended June 30, 2024, we had a net income of $1,187,666, which consists of income earned on investment held in Trust Account
of $1,468,106 offset by loss of $280,440 derived from formation and operating costs.

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. Simultaneously
with the closing of the IPO, we consummated the sale of 232,500 Private Placement Units at a price of $10.00 per Private Placement Unit,
generating total gross proceeds of $2,325,000. Following the closing of the IPO, an amount of $60,000,000