Company: GDSTR
Filing Date: 2025-05-14
Form Type: S-4/A
Source: 0001213900-25-043297
Chunk: 148

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-05-14
Form: S-4/A
Chunk 148
---
 other stockholders due to their personal financial incentives. While these interests have been disclosed, they could affect decision making in a way that is not fully aligned with the interests of the general stockholders. •In light of the foregoing, Infintium and its affiliates have considered both the potential benefits and detriments of the Business Combination and the related financing transactions. The benefits of the transaction, particularly the access to capital and public market liquidity, are expected to significantly enhance the growth prospects of the Combined Company. However, these benefits must be weighed against the potential for dilution, conflicts of interest, and integration risks. As a result, the Infintium board has carefully evaluated these factors to determine that the Business Combination is in the best interests of Infintium’s shareholders, despite the potential risks involved. Satisfaction of 80% Test At the time Goldenstone entered into the Business Combination Agreement, its securities were listed on Nasdaq. Nasdaq rules require that the business or assets acquired in Goldenstone’s initial business combination have a fair market value equal to at least 80% of Goldenstone’s assets held in the Trust Account (excluding taxes payable on the income earned on the Trust Account), which we refer to the “80% test,” at the time of the execution of a definitive agreement for such initial business combination. As of June 26, 2024, the date of the execution of the Business Combination 67 Agreement, the fair value of marketable securities held in the Trust Account was approximately $17.8 million and 80% thereof represents approximately $14.2million. In reaching its conclusion that the Business Combination meets the 80% test, the Board reviewed the pre -moneyvaluation of approximately $130,000,000. In determining whether the pro forma total enterprise value described above represents the fair market value of Infintium, the Board considered all of the factors described in this section and the section of this proxy statement/prospectus entitled “ Proposal 1 — The Business Combination Proposal — The Business Combination Agreement” and that the pre -moneyvaluation of approximately $130,000,000 was determined as a result of arm’s length negotiations. As a result, the Board concluded that the fair market value of the equity acquired was significantly in excess of 80% of the assets held in the Trust Account (excluding taxes payable on the income earned on the Trust Account). Opinion of Financial Advisor Pursuant to the engagement proposal dated February 26, 2024, EntrepreneurShares LLC (“EntrepreneurShares”) was engaged by Golden