Company: BAYAU
Filing Date: 2025-05-02
Form Type: PRE 14A
Source: 0001641172-25-008370
Chunk: 41

Company: Bayview Acquisition Corp
Filing Date: 2025-05-02
Form: PRE 14A
Chunk 41
---
 Extension Payment two (2) days prior to such Extension.

| 21 |

Reasons for the Extension Amendment Proposal

The Existing Charter currently provides that Bayview has until the Termination Date to complete an initial Business Combination. Bayview and its officers and directors agreed that they would not seek to amend the Existing Charter to allow for a longer period of time to complete a Business Combination unless Bayview provided holders of its Public Shares with the right to seek redemption of their Public Shares in connection therewith. The Board has determined that it is in the best interests of Bayview to seek an extension of the Termination Date and have Bayview shareholders approve the Extension Amendment Proposal to allow for additional time to consummate a Business Combination. The Board believes that the current Termination Date will not provide sufficient time to complete a Business Combination. Given Bayview’s commitment of time, effort and financial resources to date with respect to identifying a Business Combination target, circumstances warrant providing Public Shareholders with additional time and opportunity to consider a prospective Business Combination. However, even if the Extension Amendment Proposal is approved and the Extension and Extension Amendment are implemented, there is no assurance that Bayview will be able to consummate a Business Combination by the last Extended Date, December 19, 2025, given the actions that must occur prior to closing of a Business Combination.

Pursuant to the Existing Charter and the Trust Agreement, we have up to June 19, 2025 to complete a Business Combination. If the Extension Amendment Proposal is approved, we may, by resolution of directors, at the request of our Sponsors, avail ourselves of six (6) extensions from June 19, 2025 to December 19, 2025, with all six (6) extensions comprised of one (1) month each, to consummate the Business Combination, subject to the Sponsors (as defined in the Existing Charter) upon five days’ advance notice prior to the applicable deadline in accordance with the terms set out in the Trust Agreement and referred to in the Registration Statement (as defined in the Existing Charter), depositing $60,000 into the Trust Account in an Extension. In the event that our Sponsors elects to extend the time to complete a Business Combination, pay the Extension Payment, and deposit the Extension Payment into the Trust Account, the Sponsors will receive a non-interest bearing, unsecured promissory note equal to the amount of the Extension Payment, which amount will not be repaid in the event that we are unable to close a Business Combination