Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 461

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1C
Chunk 461
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 case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and
the requirements of other applicable law.

Proposed
Business Combination

On
June 7, 2024, the Company entered into the execution of an Agreement and Plan of Merger (the “Merger Agreement”), by and
among the Company, Oabay Holding Company, a Cayman Islands exempted company limited by shares (“PubCo”), Bayview Acquisition
Corp, a Cayman Islands exempted company limited by shares (“SPAC”), Bayview Merger Sub 1 Limited, a Cayman Islands exempted
company limited by shares and a wholly-owned subsidiary of PubCo (“Merger Sub 1”), Bayview Merger Sub 2 Limited, a Cayman
Islands exempted company limited by shares and a wholly-owned subsidiary of PubCo (“Merger Sub 2”), Oabay Merger Sub Limited,
a Cayman Islands exempted company limited by shares and a wholly-owned subsidiary of PubCo (“Merger Sub 3”), BLAFC Limited,
a business company limited by shares in the British Virgin Islands, Bayview Holding LP, a Delaware limited partnership, and Peace Investment
Holdings Limited, pursuant to which, subject to the satisfaction or waiver of certain conditions set forth therein, (i) SPAC will merge
with and into Merger Sub 1, with SPAC surviving the merger in accordance with the Companies Act (As Revised) of the Cayman Islands (the
“Act”) (the “First SPAC Merger”), (ii) immediately following the First SPAC Merger, SPAC will merge with and
into Merger Sub 2, with Merger Sub 2 surviving the Merger in accordance with the Act (the “Second SPAC Merger” and together
with the First SPAC Merger, the “Initial Mergers”), and (iii) following the Initial Mergers, Merger Sub 3 will merge with
and into the Company, with the Company being the surviving entity and becoming a wholly-owned subsidiary of PubCo in accordance with
the Act (the transactions contemplated by the Merger Agreement, the “Business Combination”).

     F-7 

On
June 26, 2024, the Company entered into Amendment No. 1 to the Merger Agreement, pursuant to which all parties agreed to revise the earnout
milestones to reflect new consolidated revenue metrics. Among other things, the Amendment revises the Merger