Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 77

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 77
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 Company deposited into trust $575,000 for each three-month extension. On
September 21, 2023, the Charter and the Trust Agreement were amended to extend the date by which the Company has to consummate a business
combination up to nine (9) times, each such extension for an additional one (1) month period, from September 21, 2023 to June 21, 2024,
provided that the Company deposited into the trust the sum of $100,000 for each one month extension. On June 18, 2024, the Charter and
the Trust Agreement were further amended to extend the date by which Company has to consummate a business combination to June 21, 2025
provided that the Company deposits a sum of $50,000 for each one month extended (for a total of up to 39 months to complete a Business
Combination) (the “Combination Period”).

If the Company is unable to complete a Business Combination within
the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably
possible but no more than ten business days thereafter, redeem 100% of the outstanding Public Shares, at a per-share price, payable in
cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned (net of taxes payable, and less up
to $50,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely
extinguish public stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any),
subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining
stockholders and the Company’s board of directors, liquidate and dissolve, subject in each case to our obligations under Delaware
law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating
distributions with respect to the Company’s public warrants, public rights, or private rights. The warrants and rights will expire
worthless if the Company fails to complete its initial Business Combination within the Combination Period. The underwriters have agreed
to waive their rights to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a Business
Combination within the Combination Period and, in such event, such amounts will be included with the funds