Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 705

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 6
Chunk 705
---
 $1,752,975, which primarily consisted of interest earned on marketable securities
held in trust account and bank interest income of $2,780,145, offset by formation and operating costs of $1,027,170.

For
period from February 17, 2023 (inception) through December 31, 2023, we had net income of $107,055, which primarily consisted of investment income from the trust
account.

Liquidity
and Capital Resources

Our
liquidity needs have been satisfied prior to the completion of the IPO through the capital contribution from our sponsor of $25,100 to
purchase the founder shares, and up to $300,000 in loans available from our sponsor under an unsecured promissory note. The promissory
note expired after the consummation of the IPO.

On
December 19, 2023, we consummated our IPO of 6,000,000 Units, at $10.00 per Unit, generating gross proceeds of $60,000,000. 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