Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 75

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 8
Chunk 75
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 for the unit purchase option, inclusive of the receipt
of the $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 5 years and (4)
85% probability of successful combination.

Transaction costs amounted to $4,331,021, consisting
of $1,150,000 of underwriting discounts and commissions, $2,012,500 of deferred underwriting discounts and commissions, $519,403 of other
offering costs, $441,025 fair value of the 57,500 representative shares and $208,093 fair value of the UPO, and were considered as part
of the transaction costs and were recognized during the three months ended March 31, 2022.

Following the closing of the Initial Public Offering
and the issuance and the sale of Private Units on March 21, 2022, $58,362,500 ($10.15 per Public Unit) from the net proceeds of the sale
of the Public Units in the Initial Public Offering and the sale of Private Units was placed in a Trust Account (the “Trust Account”)
maintained by Continental Stock Transfer & Trust Company, LLC as a trustee and invested in U.S. government treasury bills, bonds or
notes having a maturity of 185 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under
the Investment Company Act of 1940 and that invest solely in United States government treasuries, so that we are not deemed to be an investment
company under the Investment Company Act. The proceeds held in the Trust Account will not be released until the earlier of: (1) the completion
of the Company’s initial Business Combination within the required time period and (2) its redemption of 100% of the outstanding
public shares if the Company has not completed a Business Combination in the required time period. Therefore, unless and until the Company’s
initial Business Combination is consummated, the proceeds held in the Trust Account will not be available for the Company’s use
for any expenses related to the Initial Public Offering or