Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 127

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 127
---
 discussed under the section titled “ Cautionary Note Regarding Forward -Looking Statements.” Before reaching its decision, the Board reviewed the results of the due diligence conducted by our management, which included: •extensive meetings and calls with Infintium’s management to understand and analyze Infintium’s business and to understand Infintium’s final financial models and forecasts; •consultation with industry experts regarding competitive landscape, industry outlook, company reputation, business model and scientific validity; •consultation with Goldenstone’s legal and accounting advisors; •review of Infintium’s material contracts and financial, tax, legal, accounting, environmental, and intellectual property due diligence; •review of Infintium’s financial statements; •research on comparable public companies; and •research on comparable transactions. In approving the combination, the Board obtained the opinion of EntrepreneurShares LLC as to the fairness from a financial point of view of the consideration to be given in the Business Combination. In addition, the officers and directors of Goldenstone have substantial experience in evaluating the operating and financial merits of companies from a wide range of industries and concluded that their experience and background, enabled them to make the necessary analyses and determinations regarding the Business Combination. The above discussion of the material factors considered by the Board sets forth the principal factors it considered but is not intended to be exhaustive. Satisfaction of 80% Test Nasdaq rules require that the business or assets acquired in Goldenstone’s initial business combination have a fair market value equal to at least 80% of Goldenstone’s assets held in the Trust Account (excluding taxes payable on the income earned on the Trust Account), which we refer to the “80% test,” at the time of the execution of a definitive agreement for such initial business combination. As of June 26, 2024, the date of the execution of the Business Combination Agreement, the fair value of marketable securities held in the Trust Account was approximately $17.8 million and 80% thereof represents approximately $14.2million. In reaching its conclusion that the Business Combination meets the 80% test, the Board reviewed the pre -moneyvaluation of approximately $130,000,000. In determining whether the pro forma total enterprise value described above represents the fair market value of Infintium, the Board considered all of the factors described in this section and the section of this proxy statement/prospectus entitled “ Proposal 1 — The Business Combination Proposal — The Business Combination Agreement” and that the pre -moneyvaluation of approximately $130,000,000 was determined