Company: BAYAU
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011820
Chunk: 22

Company: Bayview Acquisition Corp
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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754,312 offset
by loss of $158,936 derived from formation and operating costs.

Liquidity and Capital Resources

Our liquidity needs have been satisfied prior to the
completion of the IPO through the capital contribution from our sponsor of $25,100 to purchase the founder shares, and up to $300,000
in loans available from our sponsor under an unsecured promissory note. The promissory note expired after the consummation of the IPO.

16

On December 19, 2023, we consummated our IPO of 6,000,000
Units, at $10.00 per Unit, generating gross proceeds of $60,000,000. Simultaneously with the closing of the IPO, we consummated the sale
of 232,500 Private Placement Units at a price of $10.00 per Private Placement Unit, generating total gross proceeds of $2,325,000. Following
the closing of the IPO, an amount of $60,000,000 from the net proceeds of the sale of the Units in the IPO and the Private Placement was
held in a trust account. The funds held in the trust account may be invested in U.S. government securities with a maturity of 185 days
or less or in any open-ended investment company that holds itself out as a money market fund selected by us.

We intend to use substantially all of the funds held
in the trust account, including any amounts representing interest earned on the trust account (less amounts released to us for taxes payable
and deferred underwriting commissions) to complete our initial business combination. We may withdraw interest to pay taxes, if any. Our
annual income tax obligations will depend on the amount of interest and other income earned on the amounts held in the trust account.
We expect the interest income earned on the amount in the trust account (if any) will be sufficient to pay our taxes. To the extent that
our equity or debt is used, in whole or in part, as consideration to complete our initial business combination, the remaining proceeds
held in the trust account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions
and pursue our growth strategies.

As of March 31, 2025, our cash and cash equivalent
balance was $52,601. We will use these funds primarily to identify and evaluate target businesses, perform business due diligence on prospective
target businesses, travel to and from the offices, plants or similar locations of