Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 113

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 113
---
 Combination Period”) under the Trust Agreement from September
21, 2023 to June 21, 2024 (the “Trust Amendment”) provided that the Company deposits into the Trust Account established in
connection with the Company’s initial public offering (the “Trust Account”) the sum of $100,000 for each one month extended.
In addition, the Company’s stockholders approved an amendment (the “NTA Amendment”) to Article Sixth, Paragraph D of
the Charter to modify the net tangible asset requirement (the “NTA Requirement”) to state that the Company will not consummate
any business combination unless it (i) has net tangible assets of at least $5,000,001 upon consummation of such business combination,
or (ii) is otherwise exempt from the provisions of Rule 419 promulgated under the Securities Act of 1933, as amended (the “Securities
Act”). As a result, from September 2023 through May 2024, a total of nine deposits of $100,000 was made into to the Trust Account
established at the time of the Company’s initial public offering for the benefit of the public stockholders. Pursuant to the Third
Extension, the new deadline for completion of an initial business combination was June 21, 2024, the ninth additional months of the Third
Extension.

In connection with the votes to approve the Company’s
Amended and Restated Certificate of Incorporation, 758,539 shares of Common Stock of the Company were rendered for redemption
in October 2023.

On June 18, 2024, the Company’s stockholders approved the amendment
to the Company’s Amended and Restated Certificate of Incorporation, as previously amended on September 21, 2023, to extend
the date by which the Company has to consummate a business combination up to twelve (12) times (the “Fourth Extension”),
each such extension for an additional one (1) month period, from June 21, 2024 to June 21, 2025. In connection with the
stockholders’ vote at the Annual Meeting, 3,395,590 shares of common stock were tendered for redemption. As a result,
approximately $38.0 million (approximately $11.20 per share) has been removed from the Company’s Trust Account to pay such
holders, without taking into account additional allocation of payments to cover any tax obligation of the Company,