Company: GDSTR
Filing Date: 2025-08-05
Form Type: S-4/A
Source: 0001213900-25-071731
Chunk: 69

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-05
Form: S-4/A
Chunk 69
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 most favorable balance of speed to market, capital access, valuation certainty, and strategic alignment with Infintium’s long -termobjectives.

13 Additionally, the Infintium board of directors also considered pursuing a traditional initial public offering (IPO) as a potential path to becoming a publicly traded company. However, the board of directors determined that entering into a business combination with a SPAC offered a more favorable and executable route to accessing the public markets. In making this determination, the board considered a number of factors, including: •The potential for a more efficient and expedited path to public listing compared to the traditional IPO process; •Increased transaction certainty through pre -negotiatedterms and valuation; •The opportunity to secure additional capital through a concurrent PIPE financing; •Greater flexibility to present forward -lookingprojections in connection with the transaction, subject to applicable securities laws; and •The ability to partner with a SPAC sponsor with strategic expertise and investor relationships. In addition, Infintium recognized that market sentiment toward Chinese -affiliatedcompanies, including perceived regulatory, geopolitical, or jurisdictional risks, could limit institutional investor interest or underwriter support in a traditional IPO process. As a result, the board viewed the de -SPACroute as a more viable and timely alternative to achieve the company’s capital formation and strategic objectives. Infintium’s Board of Directors’ Reasons for the Approval of the Business Combination Infintium considered a number of factors in determining to enter into the Business Combination Agreement with Goldenstone and the transactions contemplated thereby. The factors that the Infintium board of directors viewed as generally supporting its decision included, but were not limited to, the following: • Access to additional growth capital, particularly to support the expansion and commercialization of Infintium’s hydrogen fuel cell business; • Access to public capital markets, providing flexibility to raise additional funding in the future through equity or debt offerings to support ongoing growth and operations; • Potential strategic benefits of a public equity currency, including the ability to utilize publicly traded equity in future mergers and acquisitions to expand Infintium’s asset portfolio and increase operational scale; • Market timing considerations, including favorable capital market conditions for companies in the clean energy space, which the board considered to be a timely opportunity; • Anticipated benefits of public company status, including increased visibility and credibility that could enhance Infintium’s ability to establish relationships with vendors, suppliers, customers, and other strategic partners; • Enhanced ability to attract and retain key personnel, including the implementation of traditional public company equity compensation