Company: BAYAU
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011820
Chunk: 49

Company: Bayview Acquisition Corp
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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We are a blank check company incorporated on February
16, 2023, as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase,
reorganization, or similar business combination with one or more businesses, which we refer to throughout the Registration Statement as
our initial business combination. We have generated no revenues to date, and we do not expect that we will generate operating revenues
at the earliest until we consummate our initial business combination.

Results of Operations and Known Trends or Future Events

We have neither engaged in any operations nor generated
any revenues to date. Our only activities since February 16, 2023 (inception) to December 31, 2024, have been organizational activities
and those necessary to prepare for the Initial Public Offering (the “IPO”) described below and identifying a target company
and completing the initial Business Combination. Following our IPO, we would not generate any operating revenues until the completion
of our initial business combination. We would generate non-operating income in the form of interest income after the IPO. We expect to
incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as
well as for business combination expenses.

For the three months ended March 31, 2025, we had
net income of $143,915, which primarily consisted of interest earned on marketable securities held in trust account and bank interest
income of $414,374, offset by formation and operating costs of $270,459.

For the three months ended
March 31, 2024, we had a net income of $595,376, which consists of income earned on investment held in Trust Account of $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