Company: GDSTR
Filing Date: 2025-07-18
Form Type: S-4/A
Source: 0001213900-25-065671
Chunk: 68

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-07-18
Form: S-4/A
Chunk 68
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 In addition, Infintium recognized that market sentiment toward Chinese -affiliatedcompanies, including perceived regulatory, geopolitical, or jurisdictional risks, could limit institutional investor interest or underwriter support in a traditional IPO process. As a result, the board viewed the de -SPACroute as a more viable and timely alternative to achieve the company’s capital formation and strategic objectives. Infintium’s Board of Directors’ Reasons for the Approval of the Business Combination Infintium considered a number of factors in determining to enter into the Business Combination Agreement with Goldenstone and the transactions contemplated thereby. The factors that the Infintium board of directors viewed as generally supporting its decision included, but were not limited to, the following: • Access to additional growth capital, particularly to support the expansion and commercialization of Infintium’s hydrogen fuel cell business; • Access to public capital markets, providing flexibility to raise additional funding in the future through equity or debt offerings to support ongoing growth and operations; • Potential strategic benefits of a public equity currency, including the ability to utilize publicly traded equity in future mergers and acquisitions to expand Infintium’s asset portfolio and increase operational scale; • Market timing considerations, including favorable capital market conditions for companies in the clean energy space, which the board considered to be a timely opportunity; • Anticipated benefits of public company status, including increased visibility and credibility that could enhance Infintium’s ability to establish relationships with vendors, suppliers, customers, and other strategic partners; • Enhanced ability to attract and retain key personnel, including the implementation of traditional public company equity compensation programs; and • Stronger governance and internal controls, driven by compliance with public company reporting obligations, which can enhance operational discipline and corporate governance practices. Infintium board of directors carefully considered the above benefits of the Business Combination and weighed them against the following possible detriments: • dilution to Infintium’s current shareholders as a result of the Business Combination. Post-Closing, existing Infintium shareholders will own a lesser percentage of the Combined Company, a reduction from their current ownership. This dilution includes the issuance of shares to the Sponsor, Goldenstone, and any PIPE investors, which could reduce the value of their holdings, particularly if the post-Closing stock price does not perform as expected; and 14 • the interests of Infintium’s directors and officers may conflict with those of other stockholders due to their personal financial incentives. While these interests have been disclosed, they could affect decision0making in a way that is not fully aligned with