Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 402

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1C
Chunk 402
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mation of a Business Combination. The Company will bear the expenses incurred in connection with the filing of any such
registration statements.

Underwriters
Agreement

The
underwriters will be entitled to a deferred fee of 3.5% of the gross proceeds of the Initial Public Offering, or $2,012,500 until the
closing of the Business Combination. The deferred fee can be paid in cash, stock or a combination of both (at the underwriter’s
discretion). Any stock issued as a part of the deferred fee will be issued to the underwriters at the value per share in the Company’s
Trust Account, subject to any additional increases in the amount in trust per the Company’s trust extensions. Stock to be issued
to the underwriters will have unlimited piggyback registration rights and the same rights afforded other holders of the Company’s
common stock.

The
underwriters have agreed to waive their rights to the deferred underwriting commission of 3.5% of the gross proceeds of the Initial Public
Offering, or $2,012,500, held in the Trust Account in the event the Company does not complete a Business Combination within the Combination
Period.

F-19

Unit
Purchase Option

The
Company also sold to Maxim for $100 a Unit Purchase Option (“UPO”) to purchase 270,250 Units exercisable at $11.00 per Unit,
an aggregate exercise price of $2,972,750, commencing on the later of the first anniversary the effective date of the registration statement
related to the Initial Public Offering and the consummation of a Business Combination. The unit purchase option may be exercised for
cash or on a cashless basis, at the holder’s option, and expires five years from the effective date of the registration statement
related to the Initial Public Offering. The Units issuable upon exercise of the option are identical to those offered in the Initial
Public Offering. The Company accounted for the unit purchase option, inclusive of the receipt of $100 cash payment and the fair value
of $208,093, or $7.67 per Unit, as a cost of the Initial Public Offering resulting in a charge directly to stockholders’ equity.
The fair value of the UPO granted to Maxim was estimated as of the date of grant using the following assumptions: (1) expected volatility
of 12.96%, (2) risk-free interest rate of 1.61%, (3) expected life of five years and (4)