Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 58

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 1
Chunk 58
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 entitled to make up to three demands, excluding short form demands, that we register such securities. In addition,
the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the
completion of our initial business combination. We will bear the expenses incurred in connection with the filing of any such registration
statements.

Underwriting Agreement

We sold to the underwriters, 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 underwriters received
a cash underwriting discount of 2% of the gross proceeds of the IPO, or $1,150,000, upon closing of the IPO. In addition the underwriters
are entitled to a deferred underwriting discount of 3.5% of the gross proceeds of the sale of Units in the IPO, or $2,012,500, which is
currently held in the Trust Account and would be payable upon the completion of the initial Business Combination subject to the terms
of the underwriting agreement.

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ITEM 3. Quantitative and Qualitative Disclosures
About Market Risk

As
a smaller reporting company, we are not required to make disclosures under this Item.

ITEM 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Disclosure
controls are procedures that are designed with the objective of ensuring that information required to be disclosed in our reports filed
under the Exchange Act, such as this Report, is recorded, processed, summarized, and reported within the time period specified in the
SEC’s rules and forms. Disclosure controls are also designed with the objective of ensuring that such information is accumulated
and communicated to our management, including the chief executive officer and chief financial officer, as appropriate to allow timely
decisions regarding required disclosure. Our management evaluated, with the participation of our current chief executive officer/chief
financial officer (our “Certifying Officer”), the effectiveness of our disclosure controls and procedures as of June 30,
2025, pursuant to Rule 15d-15(e) under the