Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 1364

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 9B
Chunk 1364
---
 of a Business
Combination. If the Company is unable to complete an initial Business Combination within the required time period and the Company redeems
the public shares for the funds held in the Trust Account, holders of rights will not receive any of such funds for their rights and
the rights will expire worthless. The Company accounted for the 5,750,000 rights issued with the IPO as equity instruments in accordance
with ASC 480 and ASC 815. The Company accounted for the rights as an expense of the IPO resulting in a charge directly to stockholders’
equity. The Company estimates that the fair value of the rights is approximately $4.4 million, or $0.76 per Unit, using the Black-Scholes
Option Pricing Model. The fair value of the rights is estimated as of the date of grant using the following assumptions: (1) expected
volatility of 12.96%, (2) risk-free interest rate of 0.75%, (3) expected life of 1 year, (4) exercise price of $0.00 and (5) stock price
of $9.03.

F-20

Warrants

As
of March 31, 2025 and 2024, there were 5,750,000 Public Warrants and 351,250 Private Warrants outstanding. 
Each redeemable warrant entitles the holder thereof to purchase one-half (1/2) of one share of common stock at a price of $11.50 per
full share, subject to adjustment as described in this prospectus. The warrants will become exercisable on the later of the completion
of an initial Business Combination and 12 months from the closing of the Initial Public Offering. However, no public warrants will be
exercisable for cash unless the Company has an effective and current registration statement covering the issuance of the common stock
issuable upon exercise of the warrants and a current prospectus relating to such common stock. Notwithstanding the foregoing, if a registration
statement covering the issuance of the common stock issuable upon exercise of the public warrants is not effective within 90 days from
the closing of the Company’s initial Business Combination, warrant holders may, until such time as there is an effective registration
statement and during any period when we shall have failed to maintain an effective registration statement, exercise warrants on a cashless
basis pursuant to an available exemption from registration under the Securities Act. If an exemption from registration is not available,
holders will