Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 1

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1
Chunk 1
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(the “Private Units”), at a price of $10.00 per Private Unit, generating total proceeds of $3,512,500 (the “Private
Placement”). The Private Units are identical to the Units sold in the IPO except that the holders have agreed not to transfer,
assign, or sell any of the Private Units or underlying securities (except in limited circumstances, as described in the registration
statement for the IPO (the “Registration Statement”) until the date that is 30 days after the date we complete our initial
business combination. In addition, the warrants included in the Private Units are not redeemable if held by them or a permitted transferee.
Our Sponsors and the anchor investors were granted certain demand and piggyback registration rights in connection with the purchase of
the Private Warrants. The Private Units were issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, as the transactions
did not involve a public offering.

Upon
the closing of the initial public offering on March 21, 2022, a total of $58,362,500 of the net proceeds from the IPO, the Over-Allotment
and the Private Placement (including $2,012,500 of the underwriter’s deferred commission) was deposited in a trust account (the
“Trust Account”) established for the benefit of our public stockholders. As of March 31, 2025, a total of $18,666,931 including
the net proceeds from the IPO and the Private Placement as well as income accrued since the date of the IPO was being held in a trust
account established for the benefit of the Company’s public stockholders.

After
the payment of IPO transaction costs that amounted to $4,331,021, consisting of $1,150,000 of underwriting discounts and commissions,
$2,012,500 of deferred underwriting discounts and commissions (which amount will be payable upon consummation of our initial business
combination, if consummated), $519,403 of other offering costs, the $441,025 fair value of the 57,500 shares issued to the representative
(the “Representative Shares”) and the $208,093 fair value of the Unit Purchase Option sold to Maxim (the “UPO”)
and considered as part of the transaction costs, $1,045,061 of the net proceeds of the Public Offering and Private Placement was not
deposited into the Trust Account and was retained by