Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 1257

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 9A
Chunk 1257
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 part of the Public Units,
except that Maxim Group LLC has agreed not to transfer, assign or sell any such representative shares until the completion of the Company’s
initial Business Combination. In addition, Maxim Group LLC has agreed (i) to waive its redemption rights with respect to such shares
in connection with the completion of the Company’s initial Business Combination and (ii) to waive its rights to liquidating distributions
from the Trust Account with respect to such shares if the Company fails to complete its initial Business Combination within 12 months
(or up to 21 months if the Company extends the period of time to consummate a Business Combination) from the effective date of its registration
statement. The shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately
following the commencement of sales of the offering pursuant to Rule 5110(e)(1) of FINRA’s Rules. Pursuant to FINRA Rule 5110(e)(1),
these securities may not be sold, transferred, assigned, pledged or hypothecated nor may they be the subject of any hedging, short sale,
derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180
days immediately following the commencement of sales of this offering except to any underwriter and selected dealer participating in
the offering and their officers or partners, registered persons or affiliates. The Company used a Black-Scholes option-pricing Model
that values the Representative Shares granted to Maxim Group LLC and/or its designees. The key inputs into the Binomial model were (i)
risk- free interest rate of 0.75%, (ii) volatility of 12.96%, (iii) expected life of 1 year, and (iv) 85% probability of business combination.
According to the Black-Scholes option-pricing model, the fair value of the 57,500 Representative Shares was approximately $441,025 or
$7.67 per share, and were recorded as offering costs during the three months ended March 31, 2022.

F-7

The
Company also sold to Maxim, for $100, a Unit Purchase Option (“UPO”) to purchase 270,250 Units exercisable at $11.00 per
Unit, for an aggregate exercise price of $2,972,750, commencing on the later of the first anniversary of the effective date of the registration
statement related to the Initial Public Offering