Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 117

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 117
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 Offering
to consummate an initial Business Combination. However, if we anticipate that it may not be able to consummate our initial Business Combination
within 12 months, we may extend the period of time to consummate a Business Combination up to three times, each by an additional three
months (for a total of up to 21 months to complete a Business Combination). Pursuant to the terms of our amended and restated certificate
of incorporation and the trust agreement to be entered into between us and the trustee, in order to extend the time available for us to
consummate our initial Business Combination, our sponsor or its affiliates or designees, upon ten days advance notice prior to the applicable
deadline, must deposit into the Trust Account $575,000 ($0.10 per share) on or prior to the date of the applicable deadline, for each
three month extension (or up to an aggregate of $1,725,000, or $0.30 per share if the Company extends for the full nine months). On September
21, 2023, our stockholders approved the amendment to our Amended and Restated Certificate of Incorporation to extend the date by which
we have to consummate a business combination up to nine (9) times, each such extension for an additional one month period, from September
21, 2023 to June 21, 2024, and must deposit into the Trust Account in the sum of $100,000 for each one month extended. On June 18, 2024,
the Company’s stockholders approved a second amendment to the Company’s Amended and Restated Certificate of Incorporation
to extend the date by which the Company has to consummate a business combination up to twelve (12) times, each such extension for an additional
one month period, from June 21, 2024 to June 21, 2025, and must deposit into the Trust Account in the sum of $50,000 for each one month
extended. Any such payments would be made in the form of a loan. Any such loans will be non-interest bearing and payable upon the consummation
of our initial Business Combination. If we complete our initial Business Combination, we would either repay such loaned amounts out of
the proceeds of the Trust Account released to us, or up to $1,725,000 of such loans may be convertible into private units at a price of
$10.00 per unit at the option of the lender.

As of