Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 75

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 75
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of a target business and the negotiation of an agreement in connection with its initial Business Combination.

6

The Company will provide its public shareholders
with the opportunity to redeem all or a portion of their public shares upon the shareholders meeting on extension of the time to complete
the Business Combination or upon the completion of an initial Business Combination at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of its initial Business Combination,
including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, divided
by the number of then outstanding public shares, subject to certain limitations. The amount in the Trust Account was anticipated to be
$10.15 per public share. The per-share amount the Company will distribute to investors who properly redeem their shares will not be reduced
by deferred underwriting commissions the Company will pay to the underwriters (as discussed in Note 6). The common stock subject to redemption
was initially being recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering,
in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.”

For the nine months ended December 31, 2024 and 2023, the Company withdrew
$838,369 and $538,109 to pay for income taxes and franchise taxes, respectively.

The Company will proceed with a Business Combination if the Company
has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks shareholder
approval, a majority of the outstanding shares voted are voted in favor of the Business Combination. If a shareholder vote is not required
and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to its Amended
and Restated Certificate of Incorporation, offer such redemption pursuant to the tender offer rules of the Securities and Exchange Commission
(“SEC”), and file tender offer documents containing substantially the same information as would be included in a proxy statement
with the SEC prior to completing a Business Combination.

The Company will provide its stockholders with
the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection
with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to