Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 74

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 74
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 $100 cash payment and the fair value of $208,093, or $7.67 per Unit, as a cost of the Initial Public Offering resulting in a charge
directly to stockholders’ equity. The fair value of the UPO granted to Maxim was estimated as of the date of grant using the following
assumptions: (1) expected volatility of 12.96%, (2) risk-free interest rate of 1.61%, (3) expected life of 5 years and (4) 85% probability
of successful combination.

Transaction costs amounted to $4,331,021, consisting of $1,150,000
of underwriting discounts and commissions, $2,012,500 of deferred underwriting discounts and commissions, $519,403 of other offering costs,
$441,025 fair value of the 57,500 representative shares and $208,093 fair value of the UPO, and were considered as part of the transaction
costs and were recognized during the three months ended March 31, 2022.

Following the closing of the Initial Public Offering and the issuance
and the sale of Private Units on March 21, 2022, $58,362,500 ($10.15 per Public Unit) from the net proceeds of the sale of the Public
Units in the Initial Public Offering and the sale of Private Units was placed in a trust account (the “Trust Account”) maintained
by Continental Stock Transfer & Trust Company, LLC as a trustee and invested in U.S. government treasury bills, bonds or notes having
a maturity of 185 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment
Company Act of 1940 and that invest solely in United States government treasuries, so that we are not deemed to be an investment company
under the Investment Company Act. The proceeds held in the Trust Account will not be released until the earlier of: (1) the completion
of the Company’s initial Business Combination within the required time period and (2) its redemption of 100% of the outstanding
public shares if the Company has not completed a Business Combination in the required time period. Therefore, unless and until the Company’s
initial Business Combination is consummated, the proceeds held in the Trust Account will not be available for the Company’s use
for any expenses related to the Initial Public Offering or expenses which the Company may incur related to the investigation and selection