Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 139

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1A
Chunk 139
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or contribute to such a discrepancy include, but are not limited to, those described in our other Securities and Exchange Commission
(“SEC”) filings.

Overview

We
are a blank check company incorporated on September 9, 2020 as a Delaware corporation and formed for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

On
March 21, 2022, we consummated our IPO of 5,750,000 units at $10.00 per unit (the “Units”). The units sold included the full
exercise of the underwriters’ over-allotment. Each Unit consists of one share of our common stock (the “Public Shares”),
one redeemable warrant to purchase one-half of one share of our common stock at a price of $11.50 per whole share and one right. Each
right entitles the holder thereof to receive one-tenth (1/10) of one share of our common stock upon the consummation of the Business
Combination.

Simultaneously
with the closing of the IPO and the over-allotment, we consummated the issuance of 351,250 private placement units (the “Private
Placement Units”) for aggregate cash proceeds of $3,512,500. Each Private Placement Unit consists of one share of our common stock,
one redeemable warrant to purchase one-half of one share of our common stock at a price of $11.50 per whole share and one right. Each
right entitles the holder thereof to receive one-tenth (1/10) of one share of our common stock upon the consummation of our Business
Combination. Our management has broad discretion with respect to the specific application of the net proceeds of the IPO and the Private
Placement Units, although substantially all of the net proceeds are intended to be generally applied toward consummating our Business
Combination.

Upon
the closing of the initial public offering on March 21, 2022, a total of $58,362,500, or $10.15 per share of the net proceeds from the
IPO, the Over-Allotment and the Private Placement were deposited in a Trust Account established for the benefit of our public stockholders.

If
we have not completed our initial business combination by June 21, 2025, we will: (i) cease all operations except for the purpose of
winding up, (