Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 107

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 107
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 rights and the same rights afforded other holders of the Company’s common stock.

The underwriters have agreed to waive their rights
to the deferred underwriting commission of 3.5% of the gross proceeds of the Initial Public Offering, or $2,012,500, held in the Trust
Account in the event the Company does not complete a Business Combination within the Combination Period. This amount is included as a
liability in the accompanying condensed consolidated balance sheets.   

Unit Purchase Option

The Company also sold to Maxim 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 Units
issuable upon exercise of the option are identical to those offered in the Initial Public Offering. The Company accounted for the unit
purchase option, inclusive of the receipt of $100 cash payment and the fair value of $208,093, or $0.77 per Unit, as a cost
of the Initial Public Offering resulting in a charge directly to stockholders’ equity. The fair value of the UPO granted to Maxim
was estimated as of the date of grant using the following assumptions: (1) expected volatility of 12.96%, (2) risk-free interest rate
of 1.61%, (3) expected life of five years and (4) 85% probability of successful combination.

The option and such units purchased pursuant to
the option, as well as the common stock underlying such units, the rights included in such units, the shares of common stock that are
issuable for the rights included in such units, the warrants included in such units, and the shares underlying such warrants, have been
deemed compensation by FINRA and are therefore subject to a 180-day lock-up pursuant to FINRA Rule 5110(e)(1). Additionally, the option
may not be sold, transferred, assigned, pledged or hypothecated for a one-year period (including the foregoing 180-day period) following
the date of Initial Public Offering except to any underwriter and selected dealer participating