Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 680

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 4
Chunk 680
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 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 of common stock for cash, securities or other property.

Working
Capital and Extension Loans

In
addition, in order to finance transaction costs in connection with searching for a target business or consummating an intended initial
business combination, the initial stockholders, officers, directors or their affiliates may, but are not obligated to, loan us funds
as may be required. In the event that the initial business combination does not close, the Company may use a portion of the working capital
held outside the Trust Account to repay such loaned amounts, but no proceeds from the Trust Account would be used for such repayment.
Such loans would be evidenced by promissory notes. The notes would either be paid upon consummation of its initial business combination,
without interest, or, at the lender’s discretion, up to $600,000 of the notes may be converted upon consummation of the Company’s
business combination into private units at a price of $10.00 per unit. The Company concluded the embedded conversion feature within the
working capital and extension loans is not required to be bifurcated and accounted for as a liability in its entirely with the working
capital and extension loans.

The
Company had until 12 months from the closing of the Initial Public Offering to consummate an initial Business Combination. However, if
the Company anticipates that it may not be able to consummate its initial Business Combination within 12 months, the Company 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 the Company’s amended and restated certificate of incorporation
and the trust agreement to be entered into between the Company and the trustee, in order to extend the time available for the Company
to consummate its initial Business Combination, its 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