Company: GDSTR
Filing Date: 2025-05-14
Form Type: S-4/A
Source: 0001213900-25-043297
Chunk: 66

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-05-14
Form: S-4/A
Chunk 66
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 This determination is primarily based on the fact that subsequent to the Business Combination, Infintium’s Shareholders are expected to have a majority of the voting power of the Combined Company, Infintium will comprise all of the ongoing operations of the Combined Company, Infintium will comprise a majority of the governing body of the Combined Company, and Infintium’s senior management will comprise all of the senior management of the Combined Company. Accordingly, for accounting purposes, the Business Combination will be treated as the equivalent of Infintium issuing shares for the net assets of Goldenstone, accompanied by a recapitalization. The net assets of Goldenstone will be stated at historical costs. No goodwill or other intangible assets will be recorded. Operations prior to the Business Combination will be those of Infintium. Infintium’s Board of Directors’ Consideration of Strategic Alternatives to the Business Combination In connection with evaluating strategic financing alternatives, Infintium’s board of directors considered pursuing private financing rounds to raise additional capital while remaining a private company. However, after careful consideration, Infintium’s board of directors determined that private financing rounds were either unlikely to meet Infintium’s capital requirements within the desired timeframe, would not fulfill the company’s objective of becoming a publicly traded entity, or did not present comparable strategic value. The board concluded that the proposed Business Combination with Goldenstone offered the most favorable balance of speed to market, capital access, valuation certainty, and strategic alignment with Infintium’s long -termobjectives.

13 Additionally, the Infintium board of directors also considered pursuing a traditional initial public offering (IPO) as a potential path to becoming a publicly traded company. However, the board of directors determined that entering into a business combination with a SPAC offered a more favorable and executable route to accessing the public markets. In making this determination, the board considered a number of factors, including: •The potential for a more efficient and expedited path to public listing compared to the traditional IPO process; •Increased transaction certainty through pre -negotiatedterms and valuation; •The opportunity to secure additional capital through a concurrent PIPE financing; •Greater flexibility to present forward -lookingprojections in connection with the transaction, subject to applicable securities laws; and •The ability to partner with a SPAC sponsor with strategic expertise and investor relationships. In addition, Infintium recognized that market sentiment toward Chinese -affiliatedcompanies, including perceived regulatory, geopolitical, or jurisdictional risks, could limit institutional investor interest or underwriter support in a traditional IPO