Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 146

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 2
Chunk 146
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 initial business combination will be successful.

Termination of Roxe Merger Agreement

On June 21, 2022, we entered into a Merger Agreement
(the “Merger Agreement”) by and among Roxe Holding Inc., a Delaware corporation (the “Roxe”), the Registrant,
Goldenstone Merger Sub, Inc., a Delaware corporation (“Merger Sub”) and wholly-owned subsidiary of the Registrant, and Amazon
Capital Inc., solely in its capacity as representative, agent and attorney-in-fact of the Roxe Securityholders (the “Securityholder
Representative”)(collectively, the “Parties), pursuant to which Merger Sub would merge with and into the Company (the “Merger”)
with the Roxe as the surviving corporation of the Merger and becoming a wholly-owned subsidiary of the Company.

Subsequently, on December 31, 2022, we entered
into a Joint Agreement to Terminate Merger Agreement (the “Termination Agreement”) with Roxe, pursuant to which (i) the Parties
mutually agreed to terminate the Merger Agreement. The termination was by mutual agreement of the Company and Roxe pursuant to Section
10.1(c) of the Merger Agreement, and no termination fee or other 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