Bayview Acquisition Corp(US:BAYAU)2025-08-14 21:00Financial Performance - As of June 30, 2025, the company reported a net income of $114,161 for the three months ended June 30, 2025, primarily from interest income of $394,053, offset by operating costs of $279,892[94]. - For the six months ended June 30, 2025, the company had a net income of $258,075, with total interest income of $808,426 and operating costs of $550,351[94]. IPO and Fundraising - The company generated gross proceeds of $60,000,000 from its IPO of 6,000,000 Units at $10.00 per Unit, along with an additional $2,325,000 from the sale of 232,500 Private Placement Units[97]. - The company held $60,000,000 in a trust account post-IPO, which may be invested in U.S. government securities or money market funds[97]. Cash and Expenses - As of June 30, 2025, the company's cash and cash equivalents were $50,675, intended for identifying and evaluating target businesses[99]. - The company expects to incur approximately $200,000 in legal and accounting fees related to the business combination, along with other operational expenses totaling around $575,000[101]. Business Operations - The company has not engaged in any operations or generated revenues to date, with all activities focused on preparing for the IPO and identifying a target company[93]. - The company plans to use substantially all funds in the trust account to complete its initial business combination, with potential interest income expected to cover tax obligations[98]. - The company has no off-balance sheet arrangements or contractual obligations as of June 30, 2025[106]. Regulatory Status - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[107].