Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 111

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 111
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 payment is due to either party from the other
as a result of the termination.

By virtue of the termination of the Merger Agreement,
the Additional Agreements (as defined in the Merger Agreement) were terminated in accordance with their terms.

Business Combination Agreement 

On January 12 2024, the Company entered into a
nonbinding LOI for a potential business combination with Infintium Fuel Cell Systems, Inc., a Delaware corporation (“Infintium”)
and Infintium made a non-refundable earnest money deposit of $200,000 (“Earnest Money”) to proceed with the Company for the
potential business combination. Such deposit is intended to cover the business combination expenses of the Company for which Infintium
is responsible. If the potential business combination fails to occur and the LOI or the LOI or any subsequent definitive agreements are
terminated by either party due to reasons not attributable to Infintium, the Company will be required to return the Earnest Money to Infintium.

On June 26, 2024, the Company entered into a Business
Combination Agreement (the “Agreement”) with Infintium, Pacifica Acquisition Corp., a Delaware corporation (“Merger
Sub”) and wholly-owned subsidiary of the Registrant, and Yan (Chris) Feng, solely in his capacity as representative, agent and attorney-in-fact
of Infintium Securityholders (the “Securityholder Representative,” and, together with Infintium, the Company, Merger Sub,
the “Parties”), pursuant to which Merger Sub will merge with and into Infintium (the “Merger”), with Infintium
surviving the Merger as a wholly-owned subsidiary of the Company. In connection with the Merger, the Company will change its name to “Infintium
Fuel Cell Systems Holdings, Inc.” The board of directors of the Company has unanimously (i) approved and declared advisable the
Agreement, the Merger and the other transactions contemplated by the Agreement and (ii) resolved to recommend approval of the Agreement
and related matters by the stockholders of the Registrant once the Registration Statement has been declared effective.

Extension of the Deadline to Complete an Initial
Business Combination

Pursuant to the terms of our Amended and Restated Certificate of Incorporation
and the Investment Management Trust Agreement between the Company and Continental Stock Transfer & Trust Company, LLC (“Continental”),
the Company may elect to extend the time available to consummate our initial business combination,