Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 1804

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 15
Chunk 1804
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Initial Public Offering if the Company fails to complete its Business Combination.

The
Company initially had until 12 months from the closing of the Initial Public Offering (until March 21, 2023) and further provided that
the Company could extend the Business Combination Period for up to 9 additional months in three-month increments provided that the 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