Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 890

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 7
Chunk 890
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 initial business combination will be successful.

18

Termination
of Roxe Merger Agreement

On
June 21, 2022, we entered into a Merger Agreement (the “Merger Agreement”) by and among Roxe Holding Inc., a Delaware corporation
(the “Roxe”), the Registrant, Goldenstone Merger Sub, Inc., a Delaware corporation (“Merger Sub”) and wholly-owned
subsidiary of the Registrant, and Amazon Capital Inc., solely in its capacity as representative, agent and attorney-in-fact of the Roxe
Securityholders (the “Securityholder Representative”)(collectively, the “Parties), pursuant to which Merger Sub would
merge with and into the Company (the “Merger”) with the Roxe as the surviving corporation of the Merger and becoming a wholly-owned
subsidiary of the Company.

Subsequently,
on December 31, 2022, we entered into a Joint Agreement to Terminate Merger Agreement (the “Termination Agreement”) with
Roxe, pursuant to which (i) the Parties mutually agreed to terminate the Merger Agreement. The termination was by mutual agreement of
the Company and Roxe pursuant to Section 10.1(c) of the Merger Agreement, and no termination fee or other payment is due to either party
from the other as a result of the termination.

By
virtue of the termination of the Merger Agreement, the Additional Agreements (as defined in the Merger Agreement) were terminated in
accordance with their terms.

Business
Combination Agreement 

On
January 12 2024, the Company entered into a nonbinding LOI for a potential business combination with Infintium Fuel Cell Systems, Inc.,
a Delaware corporation (“Infintium”) and Infintium made a non-refundable earnest money deposit of $200,000 (“Earnest
Money”) to proceed with the Company for the potential business combination. Such deposit is intended to cover the business combination
expenses of the Company for which Infintium is responsible. If the potential business combination fails to occur and the LOI or the LOI
or any subsequent definitive agreements are terminated by either party due to reasons not attributable to Infintium, the Company will
be required to return the Earnest Money to Infintium.

On
June 26, 2024, the Company entered into a Business Combination Agreement (the “Agreement”) with Infintium, Pacifica Acquisition