Company: BAYAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024142
Chunk: 20

Company: Bayview Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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, consisting primarily of administrative services fees, with $111 as of June 30, 2025 related to website
fees.

Accounting
Service Agreement

The
Company has engaged Ascendant Global Advisors, Inc., a related party of the Sponsors, to assist in preparing quarterly and annual
financial statements. The Company has agreed to pay for such services at a fixed quarterly rate of $5,250
each quarter. For the six months ended June 30, 2025 and for the year ended December 31, 2024, service fees of $10,500
and $21,000
have been incurred for these services.

NOTE
6 — COMMITMENTS AND CONTINGENCIES

Registration
Rights

The
holders of the Founder Shares, Private Placement Units, securities underlying the unit purchase option (“UPO”), and Units
that may be issued upon conversion of working capital loans (and all underlying securities) will be entitled to registration rights pursuant
to a registration rights agreement requiring the Company to register such securities for resale. Subject to certain limitations set forth
in such agreement, the holders of these securities will be entitled to make up to three demands, excluding short form registration demands,
that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect
to registration statements filed subsequent to completion of a Business Combination and rights to require the Company to register for
resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company
will not be required to effect or permit any registration or cause any registration statement to become effective until the securities
covered thereby are released from their lock-up restrictions. The Company will bear the expenses incurred in connection with the filing
of any such registration statements.

    14

Underwriting
Agreement

The
Company granted the underwriter a 45-day option from the date of IPO to purchase up to 900,000 additional Units to cover over-allotment,
at the IPO price less the underwriting discounts and commissions. On January 28, 2024, the underwriter’s over-allotment option expired unexercised and hence a total of 225,000 ordinary shares were forfeited by the Sponsors.

The
underwriter was entitled to a cash underwriting discounts of $0.20 per Unit, or $1,200,000 in the aggregate (or $1,380,000 in the aggregate
if the underwriter’s over-all