Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 420

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1C
Chunk 420
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 Further,
if we incur any indebtedness in connection with our initial business combination, our ability to declare dividends may be limited by
restrictive covenants we may agree to in connection therewith.

Securities
Authorized for Issuance Under Equity Compensation Plans

None.

Unregistered
Sale of Equity Securities

On
February 23, 2023, our Sponsor, Bayview Holding LP acquired 1,437,500 Founder Shares for an aggregate purchase price of $25,000, of which
Bayview Holding LP owns 474,375 Ordinary Shares and Peace Investment Holdings Limited owns 963,125 Ordinary Shares. On December 14, 2023,
the Company issued an additional 287,500 Founder Shares for 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 as of the date of the Registration
Statement. On January 28, 2024, 225,000 Founder Shares held by the Sponsors were forfeited because the underwriters did not exercise
their over-allotment.

Simultaneously
with the closing of the IPO, pursuant to a Private Placement Unit Purchase Agreement, the Company completed the private sale of 232,500
Private Placement Units to the Sponsors at a purchase price of $10.00 per Private Placement Unit generating gross proceeds to the Company
of $2,325,000. The Private Placement Units are identical to the Units sold in the IPO. No underwriting discounts or commissions were
paid with respect to such sale. The issuance of the Private Placement Units was made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act of 1933, as amended.

  72 

Use
of Proceeds

On
December 19, 2023, the Company consummated the initial public offering of 6,000,000 Units at $10.00 per Unit, generating gross proceeds
of $60,000,000.

Simultaneously
with the closing of the initial public offering, we consummated the sale of 232,500 Private Placement Units at a price of $10.00 per
Unit, generating gross proceeds of $2,325,000.

On
February 23, 2023, we issued an unsecured promissory note to our Sponsors (the “Promissory Note”), pursuant to which we received
pro