Bayview Acquisition Corp(US:BAYAU)2025-11-14 21:34Company Overview - Bayview Acquisition Corp. was incorporated on February 16, 2023, as a blank check company for the purpose of effecting a business combination, and has generated no revenues to date[94]. Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $17,903, primarily due to formation and operating costs of $218,940, despite earning $201,037 in interest income[96]. - For the nine months ended September 30, 2025, the company had a net income of $240,173, with interest income of $1,009,464 offset by operating costs of $769,291[97]. IPO and Proceeds - The company completed its IPO on December 19, 2023, raising gross proceeds of $60,000,000 from the sale of 6,000,000 Units at $10.00 per Unit[100]. - The net proceeds from the IPO will be invested in U.S. government treasury bills or money market funds, minimizing exposure to interest rate risk[107]. Cash and Expenses - As of September 30, 2025, the company held $38,342 in cash and cash equivalents, which will be used for identifying and evaluating target businesses[102]. - 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 $475,000[104]. Company Classification and Concerns - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[110]. - Management has raised substantial doubt about the company's ability to continue as a going concern if a business combination is not completed within the Combination Period[106]. - The company has no off-balance sheet arrangements or contractual obligations as of September 30, 2025[109].