Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 1202

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 12
Chunk 1202
---
 finance transaction costs in connection with an intended
    initial business combination, the terms of which have not been determined nor have any written agreements been executed with respect
    thereto. Up to $300,000 of such loans may be convertible into working capital units, at a price of $10.00 per unit at the option
    of the lender. Such working capital units are identical to the Private Placement Units sold in the private placement.

Our
audit committee will review on a quarterly basis all payments that were made to our founders or their affiliates.

  86 

Director
Independence

NASDAQ
listing standards require that a majority of our board of directors be independent. An “independent director” is defined
generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship
which in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment
in carrying out the responsibilities of a director. Our board of directors has determined that each of John DeVito, Wei Lu, Yuk Man Lau
and Guohan Li are “independent directors” as defined in the NASDAQ listing standards and applicable SEC rules. Our audit
committee is composed of independent directors meeting NASDAQ’s additional requirements applicable to members of the audit committee.
Our independent directors will have regularly scheduled meetings at which only independent directors are present

    Item
    14.
    Principal
    Accounting Fees and Services.

The
firm of UHY LLP, or UHY, acts as our independent registered public accounting firm. The following is a summary of fees paid to UHY for
services rendered.

Audit
Fees. Audit fees consist of fees billed for professional services rendered for the audit of our year-end financial statements and
services that are normally provided by UHY in connection with regulatory filings. The aggregate fees billed by UHY for professional services
rendered for the audit of our annual financial statements, review of the financial information included in our Forms 10-Q for the respective
periods and other required filings with the SEC for the year ended December 31, 2024 and for the period from February 16, 2023 (inception)
through December 31, 2023 totaled $144,115 and $85,000, respectively.

Audit-Related
Fees. Audit-related services consist of fees billed for assurance and related services that are reasonably related to performance
of the audit or review of our financial statements and are not reported