Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 389

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1B
Chunk 389
---
 the trust account prior
to the completion of our initial business combination:

    ●
    Repayment
    to an aggregate of up to $300,000 in loans made to us by our sponsor;

    ●
    Reimbursement
    for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination; and

    ●
    Repayment
    of loans which may be made by our founders or an affiliate of our founders to 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