Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 105

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1
Chunk 105
---
 (38,044,345)
  
    Plus: 

    Subsequent
    accretion of carrying value to redemption value 
     1,625,328 
  
    Common
    stock subject to possible redemption, March 31, 2025 
    $19,007,601 

F-17

NOTE
5 — PRIVATE PLACEMENT

Simultaneously
with the closing of the Initial Public Offering, the Company completed the private sale of 351,250 units (the “Private Units”)
to the Sponsor, Ray Chen, our former Chief Financial Officer, and Yongsheng Liu, our former Chief Operating Officer, each through their
respective affiliated entities. Each Private Unit consists of one share of common stock, one warrant (“Private Warrant”)
and one right (each, a “Private Right”). Each Private Warrant entitles the holder to purchase one-half of one share of common
stock at an exercise price of $11.50 per whole share. Each Private Right entitles the holder to receive one-tenth of one share of common
stock at the closing of a Business Combination. The Private Units were sold at a purchase price of $10.00 per Private Unit, generating
gross proceeds to the Company of $3,512,500. The Private Units are identical to the Public Units sold in the Initial Public Offering,
except that the holders of the Private Units have agreed not to transfer, assign or sell any of the Private Units and the underlying
securities (except to certain permitted transferees) until the completion of the Company’s initial Business Combination.

NOTE
6 — RELATED PARTY TRANSACTIONS

Insider
Shares

On
March 23, 2021, the Company issued 1,437,500 shares of the Company’s common stock (the “Insider Shares”), for an aggregate
purchase price of $25,874, or approximately $0.018 per share.

As
of March 31, 2025 and 2024, there were 1,437,500 Insider Shares issued and outstanding.

The
initial stockholders have agreed not to transfer, assign or sell any of the Insider Shares (except to certain permitted transferees)
until the earlier of 180 days after the completion of our initial business combination or the date on which we complete a liquidation,
merger, stock exchange or other similar transactions after our initial business combination that results in all of our public stockholders
having the right to exchange their shares