Company: GDSTR
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014248
Chunk: 14

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 14
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will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers, prospective
target businesses or other entities with which the Company does business (except for the Company’s Independent Registered Public
Accountants), execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the
Trust Account.

Business Combination Agreement 

On January 12, 2024, the Company entered into
a nonbinding LOI for a potential business combination with Infintium Fuel Cell Systems, Inc., a Delaware corporation (“Infintium”)
and Infintium made a non-refundable earnest money deposit of $200,000 (“Earnest Money”) to proceed with the Company for the
potential business combination. Such deposit is intended to cover the business combination expenses of the Company for which Infintium
is responsible. If the potential business combination fails to occur and the LOI or the LOI or any subsequent definitive agreements are
terminated by either party due to reasons not attributable to Infintium, the Company will be required to return the Earnest Money to Infintium.

On June 26, 2024, the Company entered into a Business Combination Agreement
(the “Agreement”) with Infintium, Pacifica Acquisition Corp., a Delaware corporation (“Merger Sub 2”) and wholly-owned
subsidiary of the Registrant, and Yan (Chris) Feng, solely in his capacity as representative, agent and attorney-in-fact of Infintium
Securityholders (the “Securityholder Representative,” and, together with Infintium, the Company, Merger Sub, the “Parties”),
pursuant to which Merger Sub 2 will merge with and into Infintium (the “Merger”), with Infintium surviving the Merger as a
wholly-owned subsidiary of the Company. In connection with the Merger, the Company will change its name to “Infintium Fuel Cell
Systems Holdings, Inc.” The board of directors of the Company has unanimously (i) approved and declared advisable the Agreement,
the Merger and the other transactions contemplated by the Agreement and (ii) resolved to recommend approval of the Agreement and related
matters by the stockholders of the Registrant once the Registration Statement has been declared effective. The Company filed its initial
Form S-4 Registrant Statement on January 30, 2025, however, there is no assurance that the Registration Statement will