Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 423

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1C
Chunk 423
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 Simultaneously
with the closing of the IPO, we consummated the sale of 232,500 Private Placement Units at a price of $10.00 per Private Placement Unit,
generating total gross proceeds of $2,325,000. Following the closing of the IPO, an amount of $60,000,000 from the net proceeds of the
sale of the Units in the IPO and the Private Placement was held in a trust account. The funds held in the trust account may be invested
in U.S. government securities with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a
money market fund selected by us.

We
intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust
account (less amounts released to us for taxes payable and deferred underwriting commissions) to complete our initial business combination.
We may withdraw interest to pay taxes, if any. Our annual income tax obligations will depend on the amount of interest and other income
earned on the amounts held in the trust account. We expect the interest income earned on the amount in the trust account (if any) will
be sufficient to pay our taxes. To the extent that our equity or debt is used, in whole or in part, as consideration to complete our
initial business combination, the remaining proceeds held in the trust account will be used as working capital to finance the operations
of the target business or businesses, make other acquisitions and pursue our growth strategies.

As
of December 31, 2024, our cash and cash equivalent balance was $93,620. We will use these funds primarily to identify and evaluate target
businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations
of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective
target businesses, and structure, negotiate and complete a business combination.

In
order to fund working capital deficiencies or finance transaction costs in connection with an intended initial business combination,
our founders or an affiliate of our founders may, but are not obligated to, loan us funds as may be required. If we complete our initial
business combination, we would repay such loaned amounts. In the event that our initial business combination does not close, we may use
a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would
be used for