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Bayview Acquisition Corp (BAYA) hit with Nasdaq delisting after missing Oabay merger deadline

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Bayview Acquisition Corp reports that a Nasdaq Hearings Panel has decided to delist its securities after the company failed to complete its business combination with Oabay, Inc. by June 19, 2026, a condition for continued listing.

Nasdaq will suspend trading of Bayview’s units, ordinary shares and rights on July 7, 2026, and a Form 25-NSE will remove them from Nasdaq listing and registration. Bayview plans to ask the Nasdaq Listing and Hearing Review Council to review the delisting decision within the allowed 15-day window, but there is no assurance this review will change the outcome.

Positive

  • None.

Negative

  • Nasdaq delisting decision: A Nasdaq Hearings Panel has determined to delist Bayview Acquisition Corp’s securities and suspend trading, following failure to complete the Oabay business combination by June 19, 2026, creating material listing and liquidity risk.

Insights

Nasdaq delisting decision creates significant listing and liquidity risk.

The Panel determined that Bayview Acquisition Corp did not close its business combination with Oabay, Inc. by June 19, 2026, a key condition for continued Nasdaq listing. As a result, Nasdaq will suspend trading and file Form 25-NSE to remove the securities from listing and registration.

This action directly affects trading venue and may reduce liquidity and visibility for Bayview’s securities. The company intends to request review by the Nasdaq Listing and Hearing Review Council within the 15-day window set out in the Delisting Determination, but the text notes there is no assurance the review will succeed.

Outcome now depends on the Council’s response to Bayview’s review request and the company’s ability to both complete its business combination with Oabay and demonstrate compliance with Nasdaq initial listing rules, as referenced in the prior Panel Decision.

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing Securities
The company received a delisting notice or transferred its listing to a different exchange.
Business combination deadline June 19, 2026 Date by which Bayview had to close Oabay deal for continued Nasdaq listing
Trading suspension date July 7, 2026 Effective date when Nasdaq will suspend trading of Bayview securities
Review request window 15 days Period for Bayview to ask Nasdaq Listing and Hearing Review Council to review Delisting Determination
Delisting Determination regulatory
"the Panel has determined to delist the Company’s securities from Nasdaq (the “Delisting Determination”)"
A delisting determination is a formal decision by a stock exchange or regulator to remove a company’s shares from the official trading list, usually after the company fails to meet rules such as filing reports, maintaining a minimum share price, or staying solvent. It matters to investors because removal reduces or eliminates easy ways to buy or sell the shares, can sharply lower their value, and forces holders to trade in smaller, riskier markets — like having to sell a car at a neighborhood garage sale instead of a busy dealership.
Nasdaq Hearings Panel regulatory
"received written notice from the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market LLC"
A Nasdaq hearings panel is a group of experts that reviews cases when a company's stock listing is at risk of being removed from the exchange. They evaluate whether the company has met certain standards and determine if it can keep trading on Nasdaq. This process matters to investors because it can affect a company's ability to raise money and maintain credibility in the market.
Form 25-NSE regulatory
"a Form 25-NSE will be filed with the SEC, which will remove the Company’s securities from listing and registration"
Form 25‑NSE is an official filing used to notify the stock exchange that a company’s securities are being removed from trading on that exchange, similar to handing in a key when a shop closes. Investors care because removal ends public trading on that venue, often cutting liquidity and making it harder to buy or sell shares, which can affect a stock’s price and how quickly investors can access cash or exit positions.
Nasdaq Listing Rules 450(b)(2)(A), 5450(a)(2), 5620(a) and 5450(b)(2)(B) regulatory
"noncompliance with Nasdaq Listing Rules 450(b)(2)(A), 5450(a)(2), 5620(a) and 5450(b)(2)(B)"
Nasdaq Listing and Hearing Review Council regulatory
"the Company may request that the Nasdaq Listing and Hearing Review Council (the “Council”) review the Delisting Determination"
A Nasdaq Listing and Hearing Review Council is an independent appeal panel that examines contested decisions about a company’s eligibility to be listed or removed from the Nasdaq stock market. Think of it as a referee review for listing rulings: it gives companies a second look and investors transparency around whether a stock stays tradable on that exchange, which can affect a company’s visibility, liquidity, and investor confidence.
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FAQ

What did Nasdaq decide about Bayview Acquisition Corp (BAYA)?

Nasdaq’s Hearings Panel decided to delist Bayview Acquisition Corp’s securities after it failed to close its business combination with Oabay, Inc. by June 19, 2026. This decision leads to trading suspension and removal from Nasdaq listing and registration via a Form 25-NSE filing.

Why is Bayview Acquisition Corp (BAYA) facing delisting from Nasdaq?

Bayview is facing delisting because it did not complete its business combination with Oabay, Inc. by June 19, 2026, a condition of the Panel’s earlier decision granting continued listing. The company also needed to demonstrate compliance with Nasdaq initial listing rules tied to that transaction.

When will trading in Bayview Acquisition Corp’s securities be suspended on Nasdaq?

Trading in Bayview Acquisition Corp’s units, ordinary shares and rights will be suspended as of the open of trading on July 7, 2026. After this suspension, Nasdaq plans to file Form 25-NSE to remove the securities from listing and registration on the exchange.

Can Bayview Acquisition Corp appeal Nasdaq’s delisting determination?

Bayview may request that the Nasdaq Listing and Hearing Review Council review the Delisting Determination, provided the Council receives a written request within 15 days. The company states it intends to request review but notes there is no assurance the request will succeed.

What risks does Bayview highlight in its forward-looking statements?

Bayview notes risks that it may not obtain reversal of the Delisting Determination, may fail to demonstrate compliance with Nasdaq listing rules, and may not complete its business combination with Oabay. These uncertainties could materially affect future outcomes for the company’s securities.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

current report
pursuant to section 13 or 15(D)
of the securities exchange act of 1934

 

Date of Report (Date of earliest event reported): July 2, 2026

 

 

 

Bayview Acquisition Corp

(Exact name of registrant as specified in its charter)

 

 

 

Cayman Islands   001-41890   N/A
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (I.R.S. Employer
Identification Number)

 

420 Lexington Ave, Suite 2446

New York, NY 10170

(Address of principal executive offices, including zip code)

 

Registrant’s telephone number, including area code (347) 627-0058

 

Not Applicable
(Former name or former address, if changed since last report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Units, each consisting of one ordinary share and one right   BAYAU   The Nasdaq Stock Market LLC
Ordinary Shares, par value $0.0001 per share   BAYA   The Nasdaq Stock Market LLC
Rights, each right entitling the holder thereof to one-tenth of one ordinary share   BAYAR   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act

 

 

 

 

 

 

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

On July 2, 2026, Bayview Acquisition Corp. (the “Company”) received written notice from the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market LLC (the “Nasdaq”) that the Panel has determined to delist the Company’s securities from Nasdaq (the “Delisting Determination”) due to the Company’s failure to complete its business combination with Oabay, Inc. (“Oabay”) on or before June 19, 2026. Accordingly, the Panel suspended trading of the Company’s securities from Nasdaq, effective as of the open of trading on July 7, 2026, and a Form 25-NSE will be filed with the SEC, which will remove the Company’s securities from listing and registration on Nasdaq.

 

As previously disclosed, on April 22, 2026, the Company timely requested a hearing before the Panel to appeal an earlier February 19, 2026 determination to delist the Company’s securities from Nasdaq as a result of the Company’s noncompliance with Nasdaq Listing Rules 450(b)(2)(A), 5450(a)(2), 5620(a) and 5450(b)(2)(B). The Company received written notice of the Panel’s decision (the “Panel Decision”), to grant the Company’s request for continued listing on Nasdaq, subject to certain conditions, including that on or before June 19, 2026, the Company shall close its business combination with Oabay and demonstrate compliance with the initial listing rules of Nasdaq.

 

The Delisting Determination states the Company may request that the Nasdaq Listing and Hearing Review Council (the “Council”) review the Delisting Determination, provided the Council receives a written request within 15 days of the Delisting Determination.

 

The Company intends to request that the Council review the Delisting Determination, however there can be no assurance that a request to review will be successful.

 

Forward-Looking Statements

 

This Current Report on Form 8-K includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as “believes,” “expects,” “intends,” “plans,” “estimates,” “assumes,” “may,” “should,” “will,” “seeks,” or other similar expressions. Such statements are subject to certain risks and uncertainties that may cause the Company’s actual results to differ from the expectations expressed in the forward-looking statements. There can be no assurance that the Company will achieve such expectations, including the Company’s ability to successfully obtain a reversal of the Delisting Determination, the Company’s ability to demonstrate compliance with Nasdaq listing rules, and the Company’s ability to complete its business combination with Oabay. The forward-looking statements contained in this report speak only as of the date of this report and the Company undertakes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this report, unless required by law.

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  BAYVIEW ACQUISITION CORP
     
Date: July 9, 2026 By: /s/ Xin Wang
  Name: Xin Wang
  Title: Chief Executive Officer

 

 

 

Filing Exhibits & Attachments

4 documents