Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 386

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1B
Chunk 386
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 not exercised), 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. Prior
to the initial investment in the company of $25,100 by our Sponsors, the Company had no assets, tangible or intangible. The number of
Founder Shares issued was determined based on the expectation that such Founder Shares would represent approximately 25% of the outstanding
shares upon completion of our Initial Public Offering (excluding the private shares and shares underlying the UPO).

Private
Placement

Simultaneously
with the closing of the Initial Public Offering, our Sponsors purchased an aggregate of 232,500 Private Placement Units for a purchase
price of $10.00 per Unit in a private placement. Each Private Placement Unit consists of one ordinary share and one right entitling the
holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. If the Company does
not complete a Business Combination within the expected timeframe, the proceeds from the sale of the Private Placement Units will be
used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Units will
expire worthless.

Service
Arrangements

On
December 14, 2023, we entered into an administrative services agreement with TenX Global Capital LP, pursuant to which TenX Global Capital
LP agreed to make available to the Company certain general and administrative services, including office space, utilities and administrative
services, as the Company may require from time to time. The Company has agreed to pay TenX Global Capital LP $10,000 per month for such
administrative services. For the year ended December 31, 2024, the Company recorded an administration fee of $120,000.

Conflicts
of Interest

Each
of our officers and directors presently has, and any of them in the future may have additional, fiduciary or contractual obligations
to other entities including