Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 77

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 77
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 Combination within 12 months (or up
to 21 months if the Company extends the period of time to consummate a Business Combination  ) from the effective date of its
registration statement (see Extension of the Deadline to Complete an Initial Business Combination section below). The shares have been
deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the commencement of
sales of the offering pursuant to Rule 5110(e)(1) of FINRA’s Rules. Pursuant to FINRA Rule 5110(e)(1), these securities may not
be sold, transferred, assigned, pledged or hypothecated nor may they be the subject of any hedging, short sale, derivative, put or call
transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately following
the commencement of sales of this offering except to any underwriter and selected dealer participating in the offering and their officers
or partners, registered persons or affiliates. The Company used a Black-Scholes option-pricing Model that values the Representative Shares
granted to Maxim Group LLC and/or its designees. The key inputs into the Binomial model were (i) risk- free interest rate of 0.75%, (ii)
volatility of 12.96%, (iii) expected life of 1 year, and (iv) 85% probability of business combination. According to the Black-Scholes
option-pricing model, the fair value of the 57,500 Representative Shares was approximately $441,025 or $7.67 per share, and were recorded
as offering costs during the three months ended March 31, 2022. 

5

The Company also sold to Maxim, for $100, a Unit
Purchase Option (“UPO”) to purchase 270,250 Units exercisable at $11.00 per Unit, for an aggregate exercise price of $2,972,750,
commencing on the later of the first anniversary of the effective date of the registration statement related to the Initial Public Offering
and the consummation of a Business Combination. The UPO 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