Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 561

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 561
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 operating management to discuss Infintium’s operations, historical financial results related to their entities, future prospects, and projected operations and performance; 3)We considered publicly available data and stock market performance data of public companies we deem comparable to Infintium and reviewed the industry in which Infintium operates; and 4)We conducted such other studies, analyses, inquiries, and investigations as we deemed appropriate, including economic, industry and Company -specificinformation. The primary method used was a Market Method — Guideline Public Traded Companies as the basis for the fairness opinion assessment. These public comps were independently obtained by us. Management also provided comps that were reviewed as secondary comparison and found some overlaps to those used for the fairness opinion assessment. We also used a Guideline Transaction Method to support the fairness opinion assessment. These were independently obtained and examined by us. Additional details of the analysis performed can be found in the associated proxy statement. Finally, we completed an income method — Discounted Cash flows and examined public comps and market transaction data for key inputs. Additional details of the analysis performed can be found in the associated proxy statement. Annex D-2 In the course of our investigation, we have assumed and relied upon the accuracy and completeness of the financial statements, forecasts, projections and other information provided to us by Goldenstone and the Company and we have further relied upon the assurances of management that they were unaware of any facts that would make the information provided to us incomplete or misleading in any material respect for the purposes of this Opinion. We have not assumed any responsibility for independent verification of such information or assurances. With respect to the Infintium Management forecasts, we have been advised by Infintium, and have assumed, that they have been reasonably prepared on bases reflecting the best currently available estimates and good faith judgements of the management of Infintium as to the future financial performance of Infintium. Given the Company’s nature as a special purpose acquisition company, for purposes of our opinion and with Goldentsone’s consent we have assumed a value of $10.00 per Share in calculating the value of the Common Shares to be issued as the consideration under the agreement, with such $10.00 value being based on Goldenstone’s initial public offering price and Goldenstone’s approximate cash per outstanding Class A Share (excluding, for the avoidance of doubt, the dilutive impact of the Goldenstone Founder Shares, par value 0.0001 per share, (the “Founder Shares” and together with Goldenstone’s Class A Shares and the NewCo