Company: GDSTR
Filing Date: 2025-07-18
Form Type: S-4/A
Source: 0001213900-25-065671
Chunk: 141

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-07-18
Form: S-4/A
Chunk 141
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 President of Fusion Park LLC, Wei Qian, Yi Li, a significant stockholder of Infintium. and Eddie Ni from Goldenstone. Before finalizing their decision, Goldenstone had engaged with and assessed approximately 30 potential merger candidates. After careful consideration, Goldenstone concluded that Infintium was the best fit for their strategic goals. On November 23, 2023, an NDA was signed with Chris Feng, facilitated by Fusion Park LLC, represented by Wei Qian and James Tu. Subsequently, on January 12, 2024, a Letter of Intent (LOI) was signed with Infintium, establishing an acquisition price of $80,000,000 to $120,000,000. A deposit of $200,000.00 was received on February 22, 2024, making the LOI official and exclusive. During the negotiation process, Infintium secured a substantial purchase order of approximately $5,000,000 from a leading e -commercecompany. Due to this promising development, Infintium requested an increase in the acquisition price to $150,000,000. In response, Goldenstone engaged EntrepreneurShares LLC as a financial advisor and to provide a fairness opinion. EntrepreneurShares which presented four scenarios with valuations ranging from $15 million to $378 million. After discussions with the Goldenstone’s directors and board members, including independent board members, determined that a fair acquisition price would be $130,000,000, which Infintium accepted. Throughout the merger process, Eddie Ni visited the South Carolina factory multiple times, gaining confidence from witnessing production and sales growth firsthand. Each company conducted due diligence on the other. An initial draft of the Business Combination Agreement was circulated by Infintium’s counsel on March27, 2024 with negotiations of the definitive Business Combination Agreement continuing through June 2024. The key issues that were subject to negotiation were (i) limits on transaction -relatedexpenses as well as timing and responsibility for payment, (ii) the amount and mechanism for the agreed -uponearn -out, (iii) negative covenants that would be applicable to the companies during the period from signing of the Business Combination Agreement, (iv) the treatment for options that were outstanding at Infintium, (iv) the need for potential bridge financing and the mechanisms for arranging such, and (v) minimum cash at closing. The parties also discussed with their outside advisors the timetable for preparation of Infintium’s audit in accordance with PCAOB standards and