Company: GDSTR
Filing Date: 2025-04-24
Form Type: S-4/A
Source: 0001213900-25-034782
Chunk: 152

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-04-24
Form: S-4/A
Chunk 152
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 Transactions Method (“GTM”) is a market method examining comparable transactions. Based on EntrepreneurShares review and analysis of publicly available data (sourced through the subscription database Pitchbook) about Early Stage Investments, Late Stage Investments and “go -public” transactions (in this case so -called 72

“IPOs”) consummated on or after January 1, 2022 (the date the relevant guideline transaction was consummated, the “Guideline Transaction Date”). Within these guidelines, the following factors were considered in determining the appropriateness of transactions for inclusion in the GTM Analysis carried out by EntrepreneurShares: (i) sector, (ii) Business Status and (iii) timeline as of the Guideline Transaction Date. Utilizing the criteria set forth above, EntrepreneurShares identified 4 guideline transactions (the “Guideline Transactions Group”) that EntrepreneurShares considered relevant for comparative purposes, though, as described below, none of the selected transactions has characteristics identical to the proposed Business Combination or involves businesses that are identical to any of Business Lines (or to the Business Lines, taken as a group). The categories of transactions used by EntrepreneurShares as criteria for inclusion in the Guideline Transactions Group can be summarized as follows, based on information accessed by EntrepreneurShares through Pitchbook on June 20, 2024: •Hydrogen Sector: EntrepreneurShares focused on transactions involving companies falling in the Hydrogen category, which it considered most likely to encompass or have similarities to the Business Lines of Infintium in terms of operation characteristics and trajectories. •IPO Transactions: Among transactions falling into the Hydrogen category, EntrepreneurShares selected transactions resulting in a previously privately owned company becoming a public company through an Initial Public Offering (“IPO”) with shares listed on a U.S. national exchange. EntrepreneurShares considered these types of transactions to be similar to the proposed Business Combination, following which Infintium, is expected to be a public company with shares listed on a U.S. exchange. •Early Stage and Late Stage Investments: Among transactions falling into the Hydrogen category, EntrepreneurShares selected transactions resulting in an investment in a privately owned company being an investment in the early stages or late stages of the company. EntrepreneurShares considered these types of transactions to be similar to the proposed Business Combination, given the similarities these companies had to the Business Lines of Infintium. •Guideline Transaction Date: Among Go -PublicTransactions in the Hydrogen Category, EntrepreneurShares selected transactions consummated between January1, 2012, and the present (“Recent