Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 1557

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 11
Chunk 1557
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 the UPO, and were considered as part of the transaction costs and were recognized during the three months ended March 31, 2022.

Following
the closing of the Initial Public Offering and the issuance and the sale of Private Units on March 21, 2022, $58,362,500 ($10.15 per
Public Unit) from the net proceeds of the sale of the Public Units in the Initial Public Offering and the sale of Private Units was placed
in a Trust Account (the “Trust Account”) maintained by Continental Stock Transfer & Trust Company, LLC as a trustee and
invested in U.S. government treasury bills, bonds or notes having a maturity of 185 days or less, or in money market funds meeting the
applicable conditions under Rule 2a-7 promulgated under the Investment Company Act of 1940 and that invest solely in United States government
treasuries, so that we are not deemed to be an investment company under the Investment Company Act. The proceeds held in the Trust Account
will not be released until the earlier of: (1) the completion of the Company’s initial Business Combination within the required
time period and (2) its redemption of 100% of the outstanding public shares if the Company has not completed a Business Combination in
the required time period. Therefore, unless and until the Company’s initial Business Combination is consummated, the proceeds held
in the Trust Account will not be available for the Company’s use for any expenses related to the Initial Public Offering or expenses
which the Company may incur related to the investigation and selection of a target business and the negotiation of an agreement in connection
with its initial Business Combination.

The
Company will provide its public shareholders with the opportunity to redeem all or a portion of their public shares upon the shareholders
meeting on extension of the time to complete the Business Combination or upon the completion of an initial Business Combination at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to
the consummation of its initial Business Combination, including interest earned on the funds held in the Trust Account and not previously
released to the Company to pay its taxes, divided by the number of then outstanding public shares, subject to certain limitations. The
amount in the Trust Account was anticipated to be $10.15 per public share. The per-share amount the Company will distribute to investors
who properly redeem their shares will not be reduced by deferred under