Company: BAYAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024142
Chunk: 40

Company: Bayview Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 40
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 the Merger Agreement) within five (5) business days following the date of filing of the PubCo 2025 Audited Financials. Previously,
the Pro Rata Portion of 6,000,000 Earnout Shares was to be delivered only if the PubCo 2024 Audited Financials do not reflect consolidated
revenue in excess of RMB 436,000,000.00 during fiscal year 2024 but the total consolidated revenue reflected by the PubCo 2024 Audited
Financials and the PubCo 2025 Audited Financials is in excess of RMB 1,019,000,00.00 during fiscal year 2025.

Extension

On
September 16, 2024, the Company held an extraordinary general meeting virtually and in person, solely with respect to voting on (i)
the proposal to extend the date by which the Company must complete its initial business combination up to nine (9) times (as
extended, the “Termination Date”) from September 19, 2024 to June 19, 2025, with all nine (9) extensions comprised of
one month each (each, an “Extension”) (the “2024 Extension Amendment Proposal”) and (ii) the proposal to
amend the Company’s investment management trust agreement, dated December 14, 2023 by and between the Company and Equiniti
Trust Company, LLC (the “Trustee”) to allow the Company to extend the Termination Date up to nine (9) times, with all
nine (9) extensions comprised of one month each from the Termination Date to June 19, 2025 by providing five days’ advance
notice to the Trustee prior to the applicable Termination Date and depositing into the Trust Account $125,000
for each month in an Extension until June 19, 2025 (the “2024 Trust Agreement Amendment Proposal”).

In
connection with the vote to approve the 2024 Extension Amendment Proposal and the 2024 Trust Agreement Amendment Proposal at the
Extraordinary General Meeting on September 16, 2024, the holders of 2,290,989
Ordinary Shares properly exercised their rights to redeem their shares for cash at a redemption price of approximately $10.39
per share, for an aggregate redemption amount of approximately $23,803,376.

On
June 17, 2025, the Company held another extraordinary general meeting virtually and in person