Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 7

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 7
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 redeemable warrant entitles the holder
thereof to purchase one-half (1/2) of one share of common stock, and each ten (10) rights entitle the holder thereof to receive one share
of common stock at the closing of a Business Combination. The exercise price of the warrants is $11.50 per full share.

Simultaneously with the closing of the Initial
Public Offering, the Company completed the private sale of 351,250 units (the “Private Units”) to the Sponsor as defined below,
Ray Chen, our former Chief Financial Officer, and Yongsheng Liu, our former Chief Operating Officer, each through their respective affiliated
entities. Each Private Unit consists of one share of common stock, one warrant (“Private Warrant”) and one right (each, a
“Private Right”). Each Private Warrant entitles the holder to purchase one-half of one 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.

The Company also issued 57,500 shares of Common
Stock (the “Representative Shares”) to Maxim Group LLC and/or its designees (“Maxim”) as part of representative
compensation. The Representative Shares   are identical to the Common Stock sold as part of the Public Units, except that Maxim
Group LLC has agreed not to transfer, assign or sell any such representative shares until the completion of the Company’s initial
Business Combination. In addition, Maxim Group LLC has agreed (i) to waive its redemption rights with respect to such shares in connection
with the completion of the Company’s initial Business Combination and (ii) to waive its rights to liquidating distributions from
the Trust Account with respect to such shares if the Company fails to complete its initial Business 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