Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 958

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 7
Chunk 958
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 share of common
stock at an exercise price of $11.50 per whole share. Each Private Right entitles the holder to receive one-tenth of one share of common
stock at the closing of a Business Combination. The Private Units were sold at a purchase price of $10.00 per Private Unit, generating
gross proceeds to the Company of $3,512,500. The Private Units are identical to the Public Units sold in the Initial Public Offering,
except that the holders of the Private Units have agreed not to transfer, assign or sell any of the Private Units and the underlying
securities (except to certain permitted transferees) until the completion of the Company’s initial Business Combination.

NOTE
6 — RELATED PARTY TRANSACTIONS

Insider
Shares

On
March 23, 2021, the Company issued 1,437,500 shares of the Company’s common stock (the “Insider Shares”), for an aggregate
purchase price of $25,874, or approximately $0.018 per share.

As
of March 31, 2025 and 2024, there were 1,437,500 Insider Shares issued and outstanding.

The
initial stockholders have agreed not to transfer, assign or sell any of the Insider Shares (except to certain permitted transferees)
until the earlier of 180 days after the completion of our initial business combination or the date on which we complete a liquidation,
merger, stock exchange or other similar transactions after our initial business combination that results in all of our public stockholders
having the right to exchange their shares of common stock for cash, securities or other property.

Working
Capital and Extension Loans

In
addition, in order to finance transaction costs in connection with searching for a target business or consummating an intended initial
business combination, the initial stockholders, officers, directors or their affiliates may, but are not obligated to, loan us funds
as may be required. In the event that the initial business combination does not close, the Company may use a portion of the working capital
held outside the Trust Account to repay such loaned amounts, but no proceeds from the Trust Account would be used for such repayment.
Such loans would be evidenced by promissory notes. The notes would either be paid upon consummation of its initial business combination,
without interest, or, at the lender’s discretion, up to $600,000 of the notes may be converted upon consummation of the Company’s
business combination into