Company: GDSTR
Filing Date: 2025-08-05
Form Type: S-4/A
Source: 0001213900-25-071731
Chunk: 146

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-05
Form: S-4/A
Chunk 146
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 multiple times, gaining confidence from witnessing production and sales growth firsthand. Each company conducted due diligence on the other. An initial draft of the Business Combination Agreement was circulated by Infintium’s counsel on March27, 2024 with negotiations of the definitive Business Combination Agreement continuing through June 2024. The key issues that were subject to negotiation were (i) limits on transaction -relatedexpenses as well as timing and responsibility for payment, (ii) the amount and mechanism for the agreed -uponearn -out, (iii) negative covenants that would be applicable to the companies during the period from signing of the Business Combination Agreement, (iv) the treatment for options that were outstanding at Infintium, (iv) the need for potential bridge financing and the mechanisms for arranging such, and (v) minimum cash at closing. The parties also discussed with their outside advisors the timetable for preparation of Infintium’s audit in accordance with PCAOB standards and the timing for filing of the Registration Statement. On June 17, 2024, Goldenstone held an annual meeting of stockholders at which Goldenstone’s stockholders approved the proposal to extend the date by which Goldenstone has to consummate a business combination by 12 months from June 21, 2024 to June 21, 2025. On June 21, 2024, the Board of Directors of Goldenstone met to discuss the final draft of the Business Combination Agreement. EntrepreneurShares met with the Board and gave its presentation regarding the fairness of the transaction and issued its fairness opinion. After discussions of the terms, the Board unanimously approved entering into the Business Combination Agreement. In connection with the negotiation and approval of the Business Combination, the Board did not retain an unaffiliated representative to act solely on behalf of the unaffiliated stockholders. The Board did retain a third -partyfirm for purposes of providing an opinion as to the fairness, from a financial point of view of the consideration to be given to the Infintium stockholders. The deal was publicly announced on June 26, 2024, coinciding with the signing of the Business Combination Agreement. Subsequent to the signing and announcement of the transactions, the parties and their respective outside advisors began the work necessary for Infintium’s audit and the preparation of the Form S -4. In the late Fall of 2024, Infintium was asked by the large e -commercecompany that had purchased units from Infintium to enter into an arrangement by which this company would receive