Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 95

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 95
---

  
    Assets: 

    Trust Account - U.S. Treasury Securities Money Market Fund 
     1  
    $18,473,627  
    $55,495,253 

NOTE 4 — INITIAL PUBLIC OFFERING

On March 21, 2022, the Company closed its Initial
Public Offering of 5,750,000 units, which includes the full exercise of the underwriters’ over-allotment option. The units were
sold at a price of $10.00 per unit, resulting in total gross proceeds of $57,500,000. Each unit consists of one share of common stock,
one redeemable warrant and one right to receive one-tenth (1/10) of one share of common stock. Each redeemable warrant entitles the holder
thereof to purchase one-half (1/2) of one share of common stock, and each ten (10) rights entitle the holder thereof to receive one share
of common stock at the closing of a Business Combination. The exercise price of the warrants is $11.50 per full share. The warrants will
become exercisable on the later of 30 days after the completion of the Company’s initial Business Combination or 12 months from
the closing of the Initial Public Offering, and will expire five years after the completion of the Company’s initial Business Combination
or earlier upon redemption or liquidation.

All of the 5,750,000 public shares sold as part
of the Public Units in the Initial Public Offering contain a redemption feature which allows for the redemption of such public shares
if there is a stockholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to
the Company’s amended and restated certificate of incorporation, or in connection with the Company’s liquidation. In accordance
with the Securities and Exchange Commission (the “SEC”) and its staff’s guidance on redeemable equity instruments, which
has been codified in ASC 480-10-S99, redemption provisions not solely within the control of the Company require Common Stock subject to
redemption to be classified outside of permanent equity.

The Company’s redeemable Common Stock is subject to SEC and its
staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. If it is probable that the equity
instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the
date of issuance