Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 1162

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 9
Chunk 1162
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 proceeds of this offering held in the Trust Account prior to the completion
of our initial business combination:

    ●
    repayment of an aggregate
    of up to $300,000 in loans made to us by our sponsor to cover offering-related and organizational expenses;

    ●
    reimbursement for any out-of-pocket
    expenses related to identifying, investigating and completing an initial business combination; and

    ●
    repayment of loans which
    may be made by our sponsor or an affiliate of our sponsor or certain of our officers and directors to finance transaction costs in
    connection with an intended initial business combination, the terms of which have not been determined nor have any written agreements
    been executed with respect thereto. Up to $600,000 of such working capital loans may be convertible into units at a price of $10.00
    per unit at the option of the lender.

Our
audit committee will review on a quarterly basis all payments that were made to our sponsor, officers or directors, or our or their affiliates.

After
our initial business combination, members of our management team who remain with us may be paid consulting, management or other fees
from the combined company with any and all amounts being fully disclosed to our stockholders, to the extent then known, in the tender
offer or proxy solicitation materials, as applicable, furnished to our stockholders. It is unlikely the amount of such compensation will
be known at the time of distribution of such tender offer materials or at the time of a stockholder meeting held to consider our initial
business combination, as applicable, as it will be up to the directors of the post-combination business to determine executive officer
and director compensation.

36

In
connection with the IPO, we entered into a registration rights agreement with respect to the founder shares and private placement units
(and underlying securities).

Policy
for Approval of Related Party Transactions

The
audit committee of our board of directors has adopted a policy setting forth the policies and procedures for its review and approval
or ratification of “related party transactions.” Pursuant to the policy, the audit committee will consider (i) the relevant
facts and circumstances of each related party transaction, including if the transaction is on terms comparable to those that could be
obtained in arm’s-length dealings with an unrelated third party, (ii) the extent of the related party’s interest in the transaction,
(iii) whether the transaction contravenes our code of ethics or other policies, (iv) whether the audit