Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 12

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 12
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 with a stockholder vote to approve
a Business Combination (or sell any shares in a tender offer in connection with a Business Combination) or a vote to amend the provisions
of the Amended and Restated Certificate of Incorporation relating to stockholders’ rights of pre-Business Combination activity and
(d) that the Insider Shares and Private Units (including underlying securities) shall not participate in any liquidating distributions
upon winding up if a Business Combination is not consummated. However, the initial stockholders will be entitled to liquidating distributions
from the Trust Account with respect to any Public Shares purchased during or after the Initial Public Offering if the Company fails to
complete its Business Combination.

7

The Company initially had until 12 months from the closing of the Initial
Public Offering (until March 21, 2023) and further provided that the Company could extend the Business Combination Period for up to 9
additional months in three-month increments provided that the Company deposited into trust $575,000 for each three-month extension. On
September 21, 2023, the Charter and the Trust Agreement were amended to extend the date by which the Company has to consummate a business
combination up to nine (9) times, each such extension for an additional one (1) month period, from September 21, 2023 to June 21, 2024,
provided that the Company deposited into the trust the sum of $100,000 for each one month extension. On June 18, 2024, the Charter and
the Trust Agreement were further amended to extend the date by which Company has to consummate a business combination to June 21, 2025
provided that the Company deposits a sum of $50,000 for each one month extended (for a total of up to 39 months to complete a Business
Combination) (the “Combination Period”).

If the Company is unable to complete a Business Combination within
the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably
possible but no more than ten business days thereafter, redeem 100% of the outstanding Public Shares, at a per-share price, payable in
cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned (net of taxes payable, and less up
to $50,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely