Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 195

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 195
---
 and directors.

In
addition, even after we were to complete an initial business combination, our directors and officers could still be subject to potential
liability from claims arising from conduct alleged to have occurred prior to the initial business combination. As a result, in order
to protect our directors and officers, the post-business combination entity may need to purchase additional insurance with respect to
any such claims (“run-off insurance”). The need for run-off insurance would be an added expense for the post-business combination
entity, and could interfere with or frustrate our ability to consummate an initial business combination on terms favorable to our investors.

Our
Sponsors have the right to extend the term we have to consummate our initial business combination up to 18 months from the closing of
the IPO without providing our shareholders with a corresponding redemption right.

We
have up to 18 months from the closing of the IPO to consummate an initial business combination. However, if we anticipate that we may
not be able to consummate our initial business combination within 18 months, we may, by resolution of our Board of Directors, if requested
by our Sponsors, extend the period of time we will have to consummate an initial business combination by an
additional month (for a total of up to 18 months from the closing of the IPO), provided that, pursuant to the terms of our Second Amended
and Restated Memorandum and Articles of Association and the Trust Agreement, our Sponsors or their affiliates or designees, upon five
days’ advance notice prior to the applicable deadline, deposit into the trust account $125,000 for each Extension, on or prior
to the date of the applicable deadline. Our public shareholders will not be entitled to vote or redeem their shares in connection with
any such Extension.

In
the event that our Sponsors elect to extend the time to complete a business combination, pay the additional amounts per each Extension,
and deposit the applicable amount of money into trust, the Sponsors will receive a non-interest bearing, unsecured promissory note equal
to the amount of any such deposit and payment that will not be repaid in the event that we are unable to close a business combination
unless there are funds available outside the trust account to do so. In the event that we receive notice from our Sponsors five days
prior to the applicable deadline of their intent to effect an extension, we intend to issue a press release announcing such intention
at least three days prior to the applicable deadline. In