Company: BAYAU
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011820
Chunk: 37

Company: Bayview Acquisition Corp
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 8
Chunk 37
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620 as of March 31, 2025 and December 31, 2024, respectively.

Investments Held in Trust Account

The Company’s portfolio of investments held
in the trust account is comprised of investments in U.S. government securities with a maturity of 185 days or less or in money market
funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury
obligations and Money Market Fund. The Company’s investments held in the trust account are classified as trading securities. Trading
securities are presented on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting from the change
in fair value of investments held in Trust Account are included in interest earned on marketable securities held in trust account in the
accompanying statements of operations. The estimated fair value of investments held in the trust account is determined using available
market information. As of March 31, 2025 and December 31, 2024, the Trust Account had balances of $40,371,177 and $39,582,820, respectively.
The interests earned from the trust account totaled $413,357 and $754,312 for the three months ended March 31, 2025 and for the three
months ended March 31, 2024, respectively, which were held in the trust accounts as earned and therefore presented as an adjustment to
the operating activities in the Statement of Cash Flows.

Offering Costs

Offering costs consist of
legal, accounting, and other costs (including underwriting discounts and commissions) incurred through the balance sheet date that are
directly related to the IPO and that were charged to shareholders’ equity upon the completion of the IPO on December 19, 2023.

Income Taxes

The Company follows the asset and liability method
of accounting for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for
the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets
and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply
to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax
assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances
are established, when necessary, to reduce deferred tax assets to