Bayview Acquisition Corp extends merger deadline with $100,000 trust deposit

Bayview Acquisition Corp (NASDAQ:BAYA), currently trading at $11.29 with a market capitalization of $61.16 million, deposited $100,000 into its trust account on Friday to extend the deadline for completing its initial business combination by one month, from June 19, 2025 to July 19, 2025. According to InvestingPro analysis, the stock appears overvalued at current levels, with technical indicators suggesting overbought conditions. This marks the first of up to six permitted one-month extensions under the company’s current articles of association.

In connection with this extension, Bayview Acquisition Corp issued an unsecured promissory note for a principal amount of $600,000 to Oabay Inc. and its operating entity, AsiaFactor(CN) Co., Ltd. Financial metrics from InvestingPro indicate the company’s current ratio of 0.07 and high P/E ratio of 55.6x warrant attention, with short-term obligations exceeding liquid assets. The promissory note does not bear interest and is payable upon the completion of a business combination with the payees.

Bayview Acquisition Corp is a blank check company incorporated in the Cayman Islands and listed on The Nasdaq Stock Market LLC. Its units, ordinary shares, and rights trade under the symbols (NASDAQ:BAYAU), (NASDAQ:BAYA), and NASDAQ:BAYAR, respectively. For deeper insights into Bayview’s financial health and additional technical indicators, investors can access more exclusive analysis on InvestingPro, which features 6 key investment tips for this stock.

The company’s filing states that the extension payment and promissory note are intended to provide additional time to finalize a business combination. The information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.

In other recent news, Bayview Acquisition Corp has amended its merger agreement with Oabay Holding Company and related parties. This second amendment, filed on May 20, 2025, modifies the sequence of the merger transactions initially outlined in the original agreement from June 7, 2024. The revised plan begins with the merger of Merger Sub 3 into Oabay, making Oabay a wholly-owned subsidiary of PubCo, followed by Merger Sub 1 merging into Bayview Acquisition Corp. The amendment is designed to simplify and streamline the merger process. These mergers are subject to conditions specified in the second amendment and will proceed according to the Companies Act of the Cayman Islands. Further details will be disclosed in a proxy statement to be filed with the SEC, allowing shareholders to access necessary information for informed decision-making. The announcement clarifies that it is not a solicitation of a proxy or an offer to buy or sell securities. The information provided is based on a press release statement.

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