Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 1098

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 8
Chunk 1098
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 for $100, a Unit Purchase Option (“UPO”) to purchase 270,250 Units exercisable at $11.00 per
Unit, for an aggregate exercise price of $2,972,750, commencing on the later of the first anniversary of the effective date of the registration
statement related to the Initial Public Offering and the consummation of a Business Combination. The UPO may be exercised for cash or
on a cashless basis, at the holder’s option, and expires five years from the effective date of the registration statement related
to the Initial Public Offering. The Units issuable upon exercise of the option are identical to those offered in the Initial Public Offering.
The Company accounted for the unit purchase option, inclusive of the receipt of the $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