Company: BAYAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024142
Chunk: 41

Company: Bayview Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 41
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, solely with respect to voting on (i)
the proposal to extend the date by which the Company must complete its initial business combination from June 19, 2025 up to six
times to December 19, 2025, with all six extensions comprised of one month each (the 2025 Extension Amendment Proposal”) and
(ii) the proposal to amend the Company’s investment management trust agreement, dated December 14, 2023 by and between the
Company and the Trustee to (a) allow the Company to extend the Termination Date up to six times from the Termination Date to
December 19, 2025 with all six extensions comprised of one month each by providing five days’ advance notice to the Trustee
and depositing into the Trust Account a payment of $100,000
per extension (the “Extension Payment”) until December 19, 2025 and (b) allow the Trustee to liquidate the Trust
Account if the Extension Payment is not deposited on time after the expiration of a 30-day cure period (the “2025 Trust Agreement Amendment Proposal”).

In
connection with the vote to approve the 2025 Extension Amendment Proposal and the 2025 Trust Agreement Amendment Proposal at the
Extraordinary General Meeting on June 17, 2025, the holders of 1,975,249
Ordinary Shares properly exercised their rights to redeem their shares for cash at a redemption price of approximately $11.05
per share, for an aggregate redemption amount of approximately $21,826,501.

From
September 2024 through May 2025, the Company issued 9 promissory notes to Oabay, each in an amount of $125,000,
to cover the expense in connection with the extension of the Business Combination, for an aggregate principal amount of $1,125,000.
On June 20, 2025, the Company issued an additional unsecured promissory note in the total principal amount of $600,000
to Oabay. Through June 30, 2025, the Company had deposited an aggregate of $1,125,000
into the trust account and $100,000 into the escrow account, pursuant to the promissory notes in connection with extensions of the
deadline to complete its initial business combination from September 19, 2024 through July 19, 2025. The $100,000 was subsequently deposited into the trust account in July 2025.