Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 560

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 560
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 this Opinion does not express any views on, (i) any other terms of the Transaction, (ii) Goldenstone’s underlying business decision to proceed with or effect the Transaction, (iii) the merits of the Transaction relative to any alternative transaction or business strategy that may be available to Goldenstone (iv) the amount or nature of the compensation to any officer, director or employee, or any class of such persons, relative to the compensation to be received by the holders of any class of securities, creditors or other constituencies of Goldenstone or the Company in the Transaction, or relative to or in comparison with the Transaction Consideration, (v) the fairness of the Transaction to any particular group or class of securities, creditors, or other constituencies of Goldenstone, other than those set forth in this Opinion (vi) the solvency, creditworthiness or fair value of the Company or any other participant in the Transaction under any applicable laws relating to bankruptcy, insolvency or similar matters or (vii) the fair value of the Company independent from the Transaction taken as a whole.

Annex D-1 In the course of our analyses for rendering this Opinion, we have made such reviews, analyses, and inquiries as we have deemed necessary and appropriate under the circumstances, including, without limitation: 1)We have reviewed the following documents and sources of information in items a through k, without limitation: a.Executed Non -BindingLetter of Intent referenced above dated January12, 2024 (the “LOI”); b.Infintium’s Draft financial statement for the Years ended December31, 2023, 2022 and 2021; c.Infintium’s Forecast Model; d.Infintium’s Management Presentation; e.Infintium’s Investor Presentation; f.Infintium’s Trading Comps; g.Various Infintium organizational and administrative documents we deemed necessary and appropriate to our analysis; h.Infintium’s Cap Table; i.Various documents related to insurance, loan and tax we deemed necessary and appropriate to our analysis; j.Various consulting, research and licensing agreements for Infintium we deemed necessary and appropriate to our analysis; and k.Prospective financial data related to the Company, for which we have no reason to dispute the underlying assumptions. l.Draft of the Business Combination Agreement, by and among Goldenstone, Merger Sub and Infintium (“the Business Combination Agreement) 2)We met or otherwise communicated electronically with certain members of Goldenstone’s and Infintium’s senior and