Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 1155

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 10
Chunk 1155
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31, 2023, service fees of $21,000 and $0 have been
incurred for these services.

     F-13 

NOTE
6 — COMMITMENTS AND CONTINGENCIES

Registration
Rights

The
holders of the Founder Shares, Private Placement Units, securities underlying the unit purchase option (“UPO”), and Units
that may be issued upon conversion of working capital loans (and all underlying securities) will be entitled to registration rights pursuant
to a registration rights agreement requiring the Company to register such securities for resale. Subject to certain limitations set forth
in such agreement, the holders of these securities will be entitled to make up to three demands, excluding short form registration demands,
that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect
to registration statements filed subsequent to completion of a Business Combination and rights to require the Company to register for
resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company
will not be required to effect or permit any registration or cause any registration statement to become effective until the securities
covered thereby are released from their lock-up restrictions. The Company will bear the expenses incurred in connection with the filing
of any such registration statements.

Underwriting
Agreement

The
Company granted the underwriter a 45-day option from the date of IPO to purchase up to 900,000 additional Units to cover over-allotment,
at the IPO price less the underwriting discounts and commissions. On January 28, 2024, the underwriter did not exercise their over-allotment
option and hence a total of 225,000 ordinary shares were forfeited by the Sponsors.

The
underwriter was entitled to a cash underwriting discounts of $0.20 per Unit, or $1,200,000 in the aggregate (or $1,380,000 in the aggregate
if the underwriter’s over-allotment option is exercised in full), payable upon the closing of the IPO. The cash underwriting discount
of $1,200,000 was paid on December 19, 2023.

The
underwriter will be entitled to a deferred commission of $0.35 per Unit, or $2,100,000 in the aggregate. The deferred commission will
be paid to the underwriters from the amounts held in the escrow trust account solely in the event that the Company completes a business
combination, subject to