Company: BAYAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024142
Chunk: 54

Company: Bayview Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 Holders
of ordinary shares are entitled to one vote for each share.

On
February 23, 2023, our sponsor, Bayview Holding LP, acquired 1,437,500 founder shares for an aggregate price of $25,000. 963,125 founder
shares were transferred to our sponsor Peace Investment Holdings Limited on March 14, 2023.

On
December 14, 2023, the Company issued 287,500
founder shares for a consideration of $100,
resulting in Bayview Holding LP holding a total of 569,250
founder shares and Peace Investment Holdings Limited holding
a total of 1,155,750
founder shares. The payment of $100
was received on December 27, 2023. The issuance was considered
as a nominal issuance, in substance a recapitalization transaction, which was recorded and presented retroactively. On January 28, 2024,
a total of 225,000
ordinary shares were forfeited by the Sponsors as the underwriters’
over-allotment option expired unexercised.

On
December 19, 2023, the Sponsors purchased an aggregate of 232,500 private placement units at a price of $10.00 per unit for a total purchase
price of $2,325,000 in a private placement.

As
of June 30, 2025 and December 31, 2024, there were 1,732,500 ordinary shares issued and outstanding, excluding the 1,733,762 and 6,000,000
ordinary shares subject to possible redemption, which are presented as temporary equity.

Rights
— Except in cases where the Company is not the surviving company in a business combination, each
holder of a right will automatically receive one-tenth (1/10) of one ordinary share upon consummation of the initial Business Combination.
The Company will not issue fractional shares in connection
with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance
with the applicable provisions of Cayman law. In the event the Company is not the surviving company upon completion of the initial Business
Combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-tenth
(1/10) of one ordinary share underlying each right upon consummation of the business combination. If the Company is