Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 684

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 4
Chunk 684
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isable at $11.00 per Unit,
an aggregate exercise price of $2,972,750, commencing on the later of the first anniversary the effective date of the registration statement
related to the Initial Public Offering and the consummation of a Business Combination. The unit purchase option may be exercised for
cash or on a cashless basis, at the holder’s option, and expires five years from the effective date of the registration statement
related to the Initial Public Offering. The Units issuable upon exercise of the option are identical to those offered in the Initial
Public Offering. The Company accounted for the unit purchase option, inclusive of the receipt of $100 cash payment and the fair value
of $208,093, or $7.67 per Unit, as a cost of the Initial Public Offering resulting in a charge directly to stockholders’ equity.
The fair value of the UPO granted to Maxim was estimated as of the date of grant using the following assumptions: (1) expected volatility
of 12.96%, (2) risk-free interest rate of 1.61%, (3) expected life of five years and (4) 85% probability of successful combination. 

The
option and such units purchased pursuant to the option, as well as the common stock underlying such units, the rights included in such
units, the shares of common stock that are issuable for the rights included in such units, the warrants included in such units, and the
shares underlying such warrants, have been deemed compensation by FINRA and are therefore subject to a 180-day lock-up pursuant to FINRA
Rule 5110(e)(1). Additionally, the option may not be sold, transferred, assigned, pledged or hypothecated for a one-year period (including
the foregoing 180-day period) following the date of Initial Public Offering except to any underwriter and selected dealer participating
in the Initial Public Offering and their bona fide officers or partners. The option grants to holders demand and “piggy back”
rights for periods of five and seven years, respectively, from the effective date of the registration statement with respect to the registration
under the Securities Act of the securities directly and indirectly issuable upon exercise of the option. The Company will bear all fees
and expenses attendant to registering the securities, other than underwriting commissions which will be paid for by the holders themselves.
The exercise price and number of units issuable upon exercise of the option may be adjusted in certain circumstances including in the
event of