Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 147

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 147
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 EACH OF THE ADVISORY PROPOSALS. 71 PROPOSAL 4 — THE NASDAQ PROPOSAL Overview We are proposing the Nasdaq Proposal in order to comply with Nasdaq Listing Rules 5635(a) and (b). Under Nasdaq Listing Rule 5635(a), stockholder approval is required prior to the issuance of securities in connection with the acquisition of another company if such securities are not issued in a public offering and, due to the present or potential issuance of common stock (or securities convertible into or exercisable for common stock), (i) the common stock has, or will have upon issuance, voting power equal to or in excess of 20% of the voting power outstanding before the issuance or (ii) the number of shares of common stock to be issued is or will be equal to or in excess of 20% of the number of shares of common stock outstanding before the issuance of the stock or securities. Under Nasdaq Listing Rule 5635(b), stockholder approval is required prior to the issuance of securities when the issuance or potential issuance will result in a change of control. Pursuant to the Business Combination Agreement, we anticipate that we will issue to the Infintium Securityholders as consideration in the Business Combination 13,000,000shares of Common Stock. See the section entitled “ Proposal 1 — The Business Combination Proposal — The Business Combination Agreement — Merger Consideration.” Because the number of shares of Common Stock that we anticipate issuing as consideration in the Business Combination (i) will constitute more than 20% of the outstanding Common Stock and more than 20% of outstanding voting power prior to such issuance and (ii) will result in a change of control of Goldenstone, we are required to obtain stockholder approval of such issuance pursuant to Nasdaq Listing Rules 5635(a) and (b). Effect of Proposal on Current Stockholders If the Nasdaq Proposal is adopted, Goldenstone would issue shares representing more than 20% of the outstanding shares of Common Stock in connection with the Business Combination. The issuance of such shares would result in significant dilution to Goldenstone stockholders and would afford such stockholders a smaller percentage interest in the voting power, liquidation value and aggregate book value of Goldenstone. If the Nasdaq Proposal is adopted, assuming that 13,000,000shares of New Infintium Common Stock are issued to the Infintium Securityholders as consideration in the Business Combination, we anticipate that the Infintium Securityholders will hold 74.