Company: GDSTR
Filing Date: 2025-05-14
Form Type: S-4/A
Source: 0001213900-25-043297
Chunk: 137

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-05-14
Form: S-4/A
Chunk 137
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 for the benefit of Goldenstone’s public stockholders (the “Trust Account”), with Continental Stock Transfer & Trust Company acting as trustee. Prior to the consummation of the IPO, neither Goldenstone, nor anyone on its behalf, contacted any prospective target business or had any substantive discussions, formal or otherwise, with respect to a transaction with SPAC. Upon the consummation of the IPO, Goldenstone’s management team commenced an active search for prospective businesses to acquire in its initial business combination. Through the networks of relationships of its management team, Board of Directors, and the Sponsor, representatives of Goldenstone contacted, and representatives of Goldenstone were contacted by, a number of individuals, including financial advisors, investment banks, and other entities who offered to present ideas for business combination opportunities. During this search process, Goldenstone evaluated approximately 30 business combination opportunities across a broad range of sectors including medical, pharmaceutical, auto, EV, green energy/battery, robotics, etc. These targets represented opportunities in North America and Asia. Of the companies it had evaluated, Goldenstone executed non -disclosureagreements and entered into substantive discussions with approximately 30 potential target businesses and/or substantial stockholders thereof. Upon further discussions, we sent non -bindingLOIs to 15 of these companies and signed non -bindingLOIs with 5 companies. The potential valuations discussed for these potential targets ranged from $80 million to $3.5 billion. Prior to executing the Business Combination Agreement with Infintium, Goldenstone had also entered into a binding LOI with a few other parties which were terminated. The decisions not to pursue the alternative acquisition targets were generally the result of one or more of the following factors: (i) a difference in valuation expectations between Goldenstone, on the one hand, and the target, on the other hand; (ii) Goldenstone’s assessment of the target company’s ability to execute, scale its business, and achieve 60 its targeted financial projections; (iii) the long -termviability of the target business or its industry or the target’s ability to compete long -term; (iv) the amount of capital that would need to be raised in connection with the closing of a business combination to support the target’s business over the near -termand the likelihood of raising such capital at a valuation mutually agreeable to Goldenstone and the target; (v) material negative items surfacing during extensive due diligence efforts; or (vi) Goldenstone’s assessment of limited interest from institutional investors in the target or relevant