Company: BAYAU
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011820
Chunk: 45

Company: Bayview Acquisition Corp
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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(e)(2).

Business Combination Transaction Costs

The Company has engaged several service providers
specifically for the potential business combination. Per the agreed terms with Oabay, Oabay will be responsible for the expenses incurred
in connection with the business combination. During the three months ended March 31, 2025, $207,382 of business combination related cost
has been incurred. This activity has been recorded net in accompanying financial statements. As of March 31, 2025, the receivable from
Oabay and accrued to service providers was 0.

Finder’s Agreement

On February 8, 2024, the Company entered into an agreement with a consultant
to help introduce and identify potential business targets and negotiate terms of potential Business Combination. In connection with this
agreement, the Company will be required to pay a finder’s fee for such services, in an aggregate of 600,000 shares of the combined
listing entity upon the closing of the Business Combination.

NOTE 7 — SHAREHOLDERS’ EQUITY

Preferred Shares — The Company
is authorized to issue 2,000,000 preferred shares with a par value of $0.0001 per share with such 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.

    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