Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 85

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1
Chunk 85
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 the number of then outstanding public shares, subject to certain limitations. The
amount in the Trust Account was anticipated to be $10.15 per public share. The per-share amount the Company will distribute to investors
who properly redeem their shares will not be reduced by deferred underwriting commissions the Company will pay to the underwriters (as
discussed in Note 6). The common stock subject to redemption was initially being recorded at a redemption value and classified as temporary
equity upon the completion of the Initial Public Offering, in accordance with Accounting Standards Codification (“ASC”) Topic
480 “Distinguishing Liabilities from Equity.”

For
the years ended March 31, 2025 and 2024, the Company withdrew $991,446 and $698,946 to pay for income taxes and franchise taxes, respectively.

As of March 31, 2025, the Company over withdrew $19,067 of its federal income tax payment from the Trust Account. The Company will deduct
this balance from the next estimated income tax payment withdrawal from the Trust Account.

The
Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation
of a Business Combination and, if the Company seeks shareholder approval, a majority of the outstanding shares voted are voted in favor
of the Business Combination. If a shareholder vote is not required and the Company does not decide to hold a stockholder vote for business
or other legal reasons, the Company will, pursuant to its Amended and Restated Certificate of Incorporation, offer such redemption pursuant
to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file tender offer documents containing substantially
the same information as would be included in a proxy statement with the SEC prior to completing a Business Combination.

The
Company will provide its stockholders with the opportunity to redeem all or a portion of their Public Shares upon the completion of a
Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means
of a tender offer. The decision as to whether the Company will seek stockholder approval of a Business Combination or conduct a tender
offer will be made by the Company, solely in its discretion. The stockholders will be entitled to redeem their Public Shares for a pro
rata portion of the amount then on deposit in the Trust Account (initially $10.15 per share), plus any pro rata interest earned on the
funds held