Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 234

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 234
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, Bayview Holding LP, purchased 1,437,500 Founder Shares for an aggregate purchase price of $25,000 of
which Bayview Holding LP owns 474,375 Ordinary Shares and Peace Investment Holdings Limited owns 963,125 Ordinary Shares. On December
14, 2023, the Company issued an additional 287,500 Founder Shares for 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 as of the date of
the Registration Statement. On January 28, 2024, 225,000 Founder Shares held by the Sponsors were forfeited because the underwriters
did not exercise their over-allotment. Prior to the initial investment in the Company of $25,000 by our Sponsors, the Company had no
assets, tangible or intangible. The number of Founder Shares issued was determined based on the expectation that such Founder Shares
would represent 25% of the outstanding shares after the IPO (excluding the private shares and shares underlying the UPO). The Founder
Shares will be worthless if we do not complete an initial business combination. In addition, our Sponsors purchased an aggregate of 232,500
Private Placement Units, at $10.00 per unit, for a purchase price of approximately $2,325,000. The Founder Shares and Private Placement
Units will be worthless if we do not complete an initial business combination. Our Initial Shareholders have agreed (A) to vote any shares
owned by them in favor of any proposed business combination and (B) not to redeem any Founder Shares or private shares in connection
with a shareholder vote to approve a proposed initial business combination. In addition, we may obtain loans from our founders. The personal
and financial interests of our founders may influence their motivation in identifying and selecting a target business combination, completing
an initial business combination and influencing the operation of the business following the initial business combination.

The
provisions of our Second Amended and Restated Memorandum and Articles of Association that relate to our pre-business combination activity
(and corresponding provisions of the agreement governing the release of funds from our trust account) may be amended with the approval
of holders of two-thirds of our Ordinary Shares, which is a lower amendment threshold than that of some other blank check companies.
It may be easier for us, therefore, to amend our Second Amended and Restated Memorandum and Articles of Association and