Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 109

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 109
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 statements by terminology such as “may,”
“should,” “could,” “would,” “expect,” “plan,” “anticipate,”
“believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions.
Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in our other
Securities and Exchange Commission (“SEC”) filings.

Overview

We are a blank check company incorporated on September
9, 2020 as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more businesses.

On March 21, 2022, we consummated our IPO of 5,750,000
units at $10.00 per unit (the “Units”). The units sold included the full exercise of the underwriters’ over-allotment.
Each Unit consists of one share of our common stock (the “Public Shares”), one redeemable warrant to purchase one-half of
one share of our common stock at a price of $11.50 per whole share and one right. Each right entitles the holder thereof to receive one-tenth
(1/10) of one share of our common stock upon the consummation of the Business Combination.

Simultaneously with the closing of the IPO and
the over-allotment, we consummated the issuance of 351,250 private placement units (the “Private Placement Units”) for aggregate
cash proceeds of $3,512,500. Each Private Placement Unit consists of one share of our common stock, one redeemable warrant to purchase
one-half of one share of our common stock at a price of $11.50 per whole share and one right. Each right entitles the holder thereof to
receive one-tenth (1/10) of one share of our common stock upon the consummation of our Business Combination. Our management has broad
discretion with respect to the specific application of the net proceeds of the IPO and the Private Placement Units, although substantially
all of the net proceeds are intended to be generally applied toward consummating our Business Combination.

Upon the closing of the initial public offering on March 21, 2022,
a total of $58,362,500, or $10.15 per share of the net proceeds from the IPO, the Over-Allotment and the Private Placement were deposited
in a Trust Account established