Company: BAYAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024142
Chunk: 48

Company: Bayview Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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,” approximates the carrying amounts represented in the balance sheet, primarily due to their short-term nature.

Ordinary
Shares Subject to Possible Redemption

The
Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification
(“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Ordinary shares subject to mandatory redemption (if
any) is classified as a liability instrument and is measured at fair value. Conditionally redeemable ordinary shares (including ordinary
shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence
of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, ordinary shares
are classified as shareholders’ equity. The Company’s ordinary shares features certain redemption rights that are considered
to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, ordinary shares subject
to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the
Company’s balance sheet. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying
value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the
carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital and accumulated deficit.

    12

At
June 30, 2025, the ordinary shares subject to possible redemption reflected in the balance sheet are reconciled in the following table:

SCHEDULE OF ORDINARY SHARES SUBJECT TO POSSIBLE
REDEMPTION REFLECTED IN THE BALANCE SHEET

    Public offering proceeds 
    $60,000,000 
  
    Less: 

    Proceeds allocated to Public Rights 
     (2,460,000)
  
    Allocation of offering costs related to redeemable shares 
     (4,163,327)
  
    Plus: 

    Accretion of carrying value to redemption value 
     6,623,327 
  
    Ordinary shares subject to possible redemption 
    $60,000,000 
  
    Plus: 

    Subsequent measurement of ordinary shares subject to possible redemption (income earned on trust account) 
     107,055 
  
    Ordinary shares subject to possible redemption as of December 31, 2023 
    $60,107,055 
  
    Less: 

    Withdrawn in connection with redemption 
     (