Document:

Exhibit 4.2

 

FORM OF WARRANT

 

THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE SECURITIES MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED, HYPOTHECATED, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER APPLICABLE SECURITIES LAWS OR UNLESS OFFERED, SOLD, PLEDGED, HYPOTHECATED OR TRANSFERRED PURSUANT TO AN AVAILABLE EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THOSE LAWS. THE COMPANY SHALL BE ENTITLED TO REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
THAT SUCH REGISTRATION IS NOT REQUIRED TO THE EXTENT THAT AN OPINION IS REQUIRED PURSUANT TO THE AGREEMENT UNDER WHICH THE SECURITIES
WERE ISSUED. 

 

PALISADE BIO, INC. 

 

WARRANT TO PURCHASE COMMON STOCK 

 

	No. CW-1	 	August 19, 2021

 

Void After August 19, 2026

 

THIS CERTIFIES THAT, for value received, Yuma
Regional Medical Center or its permitted assigns (the “Holder”), is entitled to subscribe for and purchase at
the Exercise Price (defined below) from Palisade Bio, Inc., a Delaware corporation (the “Company”), up to 377,474
shares of the Common Stock of the Company (the “Common Stock”), subject to adjustment as provided herein. This
Warrant is one of a series of Warrants being issued pursuant to the terms of the Securities Purchase Agreement, dated August 19, 2021,
by and among the Company and the original Holder of this Warrant and the other parties named therein (the “Purchase Agreement”).
Capitalized terms not otherwise defined herein shall have the respective meanings ascribed to such terms in the Purchase Agreement.

 

1. DEFINITIONS. As used herein, the following terms shall have the
following respective meanings:

 

(a) “Exercise Period” shall
mean the period commencing August 19, 2021 and ending August 19, 2026, unless sooner terminated as provided below.

 

(b) “Exercise Price” shall
mean $3.45 per share, subject to adjustment pursuant to Section 5 below.

 

(c) “Exercise Shares” shall
mean the shares of the Company’s Common Stock issued upon exercise of this Warrant, subject to adjustment pursuant to the terms
herein, including but not limited to adjustment pursuant to Section 5 below.

 

2. EXERCISE OF WARRANT. 

 

2.1 Method of Exercise. The rights represented
by this Warrant may be exercised in whole or in part at any time during the Exercise Period, by delivery of the following to the Company
at its address set forth above (or at such other address as it may designate by notice in writing to the Holder):

 

(a) An executed Notice of Exercise in the
form attached hereto;

 

(b) Payment of the Exercise Price either (i) in
cash or by check or wire transfer of immediately available funds, or (ii) pursuant to a Cashless Exercise, as described and permitted
below; and

 

(c) This Warrant.

 

Upon the exercise of the rights represented by this
Warrant, shares of Common Stock shall be issued for the Exercise Shares so purchased, and shall be registered in the name of the Holder
or persons affiliated with the Holder, if the Holder so designates, within a reasonable time after the rights represented by this Warrant
shall have been so exercised and shall be issued in certificate form and delivered to the Holder, if so requested.

 

     

     

    

 

The person in whose name any Exercise Shares are to
be issued upon exercise of this Warrant shall be deemed to have become the holder of record of such shares on the date on which this Warrant
was surrendered and payment of the Exercise Price was made, irrespective of the date of issuance of the shares of Common Stock, except
that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall be
deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock transfer books
are open.

 

The Exercise Shares issuable upon any exercise of
this Warrant shall be issued within two Business Days following such exercise and, to the extent required in the Purchase Agreement, shall
be issued free of any restrictive or other legend and by electronic delivery to the Holder’s or its designee’s balance account
at DTC.

 

2.2 Cashless Exercise. Notwithstanding any
provisions herein to the contrary, if, at any time during the Exercise Period, (a) the Current Market Price (as defined below) of one
share of Common Stock is greater than the Exercise Price (at the date of calculation as set forth below) and (b) there is no effective
registration statement registering, or no current prospectus available for, the resale of the Exercise Shares by the Holder, then, in
lieu of exercising this Warrant by payment of cash, the Holder may exercise this Warrant by a cashless exercise by surrender of this Warrant
at the principal office of the Company together with the properly endorsed Notice of Exercise and the Company shall issue to the Holder
a number of shares of Common Stock computed using the following formula:

 

	 	 	X =	 	
    Y (B-A)

           B

    

	 	 	 
	Where:	 	X =	 	the number of shares of Common Stock to be issued to the Holder.
	 	 	 
	 	 	Y =	 	the number of shares of Common Stock purchasable upon exercise of all of the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being exercised.
	 	 	 
	 	 	A =	 	the Exercise Price.
	 	 	 
	 	 	B =	 	the Current Market Price of one share of Common Stock.

 

“Current Market Price”
means on any particular date:

 

(a) if the Common Stock is traded on The Nasdaq
Stock Market, the closing price of the Common Stock of the Company on such market on the day prior to the applicable date of valuation;

 

(b) if the Common Stock is traded on any registered
national stock exchange but is not traded on The Nasdaq Stock Market, the closing price of the Common Stock of the Company on such exchange
on the day prior to the applicable date of valuation;

 

(c) if the Common Stock is traded over-the-counter,
but not on The Nasdaq Stock Market or another registered national stock exchange, the closing bid price of the Common Stock of the Company
on the day prior to the applicable date of valuation; and

 

(d) if there is no active public market for
the Common Stock, the value thereof, as determined in good faith by the Board of Directors of the Company upon due consideration of the
proposed determination thereof by the Holder.

 

2.3 Partial Exercise. If this Warrant is exercised
in part only, the Company shall, upon surrender of this Warrant, execute and deliver, within 10 days of the date of exercise, a new Warrant
evidencing the rights of the Holder, or such other person as shall be designated in the Notice of Exercise, to purchase the balance of
the Exercise Shares purchasable hereunder. In no event shall this Warrant be exercised for a fractional Exercise Share, and the Company
shall not distribute a Warrant exercisable for a fractional Exercise Share. Fractional Warrant shares shall be treated as provided in
Section 6 hereof.

 

     

     

    

 

2.4 No Settlement for Cash. The Warrant cannot
be settled with the Company for cash and except with respect to fractional shares as provided herein, the Company shall have no obligation
to pay cash upon any exercise of this Warrant.

 

3. COVENANTS OF THE COMPANY. 

 

3.1 Covenants as to Exercise Shares. The Company
covenants and agrees that all Exercise Shares that may be issued upon the exercise of the rights represented by this Warrant will, upon
issuance, be validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and charges with respect to
the issuance thereof. The Company further covenants and agrees that the Company will at all times during the Exercise Period have authorized
and reserved, free from preemptive rights, a sufficient number of shares of its Common Stock to provide for the exercise of the rights
represented by this Warrant. If at any time during the Exercise Period the number of authorized but unissued shares of Common Stock shall
not be sufficient to permit exercise of this Warrant, the Company will take such corporate action as may, in the opinion of its counsel,
be necessary to increase its authorized but unissued shares of Common Stock (or other securities as provided herein) to such number of
shares as shall be sufficient for such purposes.

 

3.2 No Impairment. Except and to the extent
as waived or consented to by the Holder or otherwise in accordance with Section 11 hereof, the Company will not, by amendment of
its Certificate of Incorporation (as such may be amended from time to time), or through any means, avoid or seek to avoid the observance
or performance of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in
the carrying out of all the provisions of this Warrant and in the taking of all such action as may be necessary or appropriate in order
to protect the exercise rights of the Holder against impairment.

 

3.3 Notices of Record Date. In the event of
any taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders thereof who
are entitled to receive any dividend (other than a cash dividend which is the same as cash dividends paid in previous quarters) or other
distribution, the Company shall mail to the Holder, at least 10 days prior to the date thereof, a notice specifying the date on which
any such record is to be taken for the purpose of such dividend or distribution.

 

3.4 Distributions. If the Company shall declare
or make any dividend or other distribution of its assets (or rights to acquire its assets) (the “Distributed Property”)
to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash,
stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement
or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each
such case, the Holder shall be entitled, upon exercise of this Warrant for the purchase of any or all of the Exercise Shares, to receive
the amount of Distributed Property which would have been payable to the Holder had such Holder been the holder of such Exercise Shares
on the record date for the determination of the stockholders entitled to receive such Distributed Property.  The Company will at
all times set aside in escrow and keep available for distribution to such Holder upon exercise of this Warrant a portion of the Distributed
Property to satisfy the distribution to which such Holder is entitled pursuant to the preceding sentence.

 

3.5 Fundamental Transactions.  If the Company
consummates (i) a merger or consolidation with or into another entity, as a result of which the holders of the Company’s outstanding
voting securities as of immediately prior to such merger or consolidation hold less than a majority of the outstanding voting securities
of the surviving or successor entity as of immediately after such merger or consolidation or (ii) a sale, transfer or other disposition
of all or substantially all its property, assets or business to another person or entity (any such transaction being hereinafter referred
to as a “Fundamental Transaction”), then the Company shall ensure that lawful and adequate provision shall be
made whereby the Holder shall thereafter have the right to purchase and receive upon the basis and upon the terms and conditions herein
specified and in lieu of the Exercise Shares immediately theretofore issuable upon exercise of this Warrant, such shares of stock, securities
or assets as would have been issuable or payable with respect to or in exchange for a number of Exercise Shares equal to the number of
Exercise Shares immediately theretofore issuable upon exercise of this Warrant, had such Fundamental Transaction not taken place. The
provisions of this Section 3.5 shall similarly apply to successive consolidations, mergers, sales, transfers or other dispositions.

 

     

     

    

 

4. REPRESENTATIONS OF HOLDER. 

 

4.1 Acquisition of Warrant for Personal Account.
The Holder represents and warrants that it is acquiring the Warrant and the Exercise Shares solely for its account for investment and
not with a present view toward the public or distribution of said Warrant or Exercise Shares or any part thereof and has no intention
of selling or distributing said Warrant or Exercise Shares or any arrangement or understanding with any other persons regarding the sale
or distribution of said Warrant or, except in accordance with the provisions of Section 6 of the Purchase Agreement, the Exercise Shares,
and except as would not result in a violation of the Securities Act. The Holder will not, directly or indirectly, offer, sell, pledge,
transfer or otherwise dispose of (or solicit any offers to buy, purchase or otherwise acquire or take a pledge of) the Warrant except
in accordance with the Securities Act and will not, directly or indirectly, offer, sell, pledge, transfer or otherwise dispose of (or
solicit any offers to buy, purchase or otherwise acquire or take a pledge of) the Exercise Shares except in accordance with the provisions
of Section 6 of the Purchase Agreement or pursuant to and in accordance with the Securities Act. By making the representations herein,
the Holder does not agree to hold any of the this Warrant or any of the Exercise Shares for any minimum or other specific term and reserves
the right to assign, transfer or otherwise dispose of any of such Securities at any time in accordance with or pursuant to a registration
statement or a valid exemption under the Securities Act.

 

4.2 Securities Are Not Registered. 

 

(a) The Holder understands that the offer
and sale of the Warrant or the Exercise Shares have not been registered under the Securities Act on the basis that no distribution or
public offering of the securities is to be effected. The Holder realizes that the basis for the exemption may not be present if the Holder’s
representations in this Section 4 are untrue.

 

(b) The Holder recognizes that the Warrant
and the Exercise Shares must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from
such registration is available. The Holder recognizes that the Company has no obligation to register the Warrant or, except as provided
in the Purchase Agreement, the Exercise Shares of the Company, or to comply with any exemption from such registration.

 

(c) The Holder is aware that neither the Warrant
nor the Exercise Shares may be sold pursuant to Rule 144 adopted under the Securities Act unless certain conditions are met, including,
among other things, the availability of certain current public information about the Company and the resale following the required holding
period under Rule 144. Holder is aware that any such sale made in reliance on Rule 144, if Rule 144 is available, may be made only in
accordance with the terms of Rule 144.

 

4.3 Disposition of Warrant and Exercise Shares.

 

(a) The Holder further agrees not to make
any disposition of all or any part of the Warrant or Exercise Shares in any event unless and until:

 

(i) The Company shall have received a letter
secured by the Holder from the SEC stating that no action will be recommended to the SEC with respect to the proposed disposition;

 

(ii) There is then in effect a registration
statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with said registration
statement; or

 

(iii) The Holder shall have notified the
Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the
proposed disposition, and if reasonably requested by the Company, the Holder shall have furnished the Company with an opinion of counsel,
reasonably satisfactory to the Company, for the Holder to the effect that such disposition will not require registration of such Warrant
or Exercise Shares under the Securities Act or any applicable state securities laws; provided, that no opinion shall be required
for any disposition made or to be made in accordance with the provisions of Rule 144.

 

(b) The Holder understands and agrees that
all certificates evidencing the Exercise Shares to be issued to the Holder may bear a legend in substantially the following form; provided,
that such legend shall be removed (or such Exercise Shares shall be issued without such legend upon exercise of this Warrant) as required
pursuant to Section 3.6(b) of the Purchase Agreement:

 

     

     

    

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE SECURITIES MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED, HYPOTHECATED, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER APPLICABLE SECURITIES LAWS, OR UNLESS OFFERED, SOLD, PLEDGED, HYPOTHECATED OR TRANSFERRED PURSUANT TO AN AVAILABLE EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THOSE LAWS. THE COMPANY SHALL BE ENTITLED TO REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
THAT SUCH REGISTRATION IS NOT REQUIRED TO THE EXTENT THAT AN OPINION IS REQUIRED PURSUANT TO THE AGREEMENT UNDER WHICH THE SECURITIES
WERE ISSUED. 

 

5. ADJUSTMENT OF EXERCISE PRICE. In the event of changes in the
outstanding Common Stock of the Company by reason of stock dividends, split-ups, recapitalizations, reclassifications, combinations or
exchanges of shares, separations, reorganizations, liquidations, or the like, the number and class of shares available under the Warrant
in the aggregate and the Exercise Price shall be correspondingly adjusted to give the Holder of the Warrant, on exercise for the same
aggregate Exercise Price, the total number, class, and kind of shares as the Holder would have owned had the Warrant been exercised prior
to the event and had the Holder continued to hold such shares until after the event requiring adjustment. The form of this Warrant need
not be changed because of any adjustment in the number, class, and kind of shares subject to this Warrant. The Company shall promptly
provide a certificate from an executive officer of the Company notifying the Holder in writing of any adjustment in the Exercise Price
and/or the total number, class, and kind of shares issuable upon exercise of this Warrant, which certificate shall specify the Exercise
Price and number, class and kind of shares under this Warrant after giving effect to such adjustment.

 

6. FRACTIONAL SHARES. No fractional shares shall be issued upon
the exercise of this Warrant as a consequence of any adjustment pursuant hereto. All Exercise Shares (including fractions) issuable upon
exercise of this Warrant may be aggregated for purposes of determining whether the exercise would result in the issuance of any fractional
share. If, after aggregation, the exercise would result in the issuance of a fractional share, the Company shall, in lieu of issuance
of any fractional share, pay the Holder otherwise entitled to such fraction a sum in cash equal to the product resulting from multiplying
the Exercise Price by such fraction.

 

7. CERTAIN EVENTS. In the event of, at any time during the Exercise
Period, any capital reorganization, or any reclassification of the capital stock of the Company (other than a change in par value or from
par value to no par value or no par value to par value or as a result of a stock dividend or subdivision, split-up or combination of shares),
or the consolidation or merger of the Company with or into another corporation (other than a merger solely to effect a reincorporation
of the Company into another jurisdiction), in each case, in which the stockholders of the Company immediately prior to such capital reorganization,
reclassification, consolidation or merger, will hold less than a majority of the outstanding shares of the Company or resulting corporation
immediately after such capital reorganization, reclassification, consolidation or merger, or the sale or other disposition of all or substantially
all of the properties and assets of the Company and its subsidiaries, taken as a whole, in its entirety to any other person, other than
sales or other dispositions that do not require stockholder approval (each, an “Event”), the Company shall provide
to the Holder 10 days’ advance written notice of such Event, and the Holder shall have the option, in its sole discretion, to allow
any unexercised portion of the Warrant to be deemed automatically exercised pursuant to Section 2.2, subject to Section 2.5. This
Warrant will be binding upon the successors and assigns of the Company upon an Event.

 

8. NO STOCKHOLDER RIGHTS. This Warrant in and of itself shall not
entitle the Holder to any voting rights or other rights as a stockholder of the Company.

 

9. TRANSFER OF WARRANT. Subject to applicable laws and compliance
with Section 4.3 hereof, this Warrant and all rights hereunder are transferable, by the Holder in person or by duly authorized attorney,
upon delivery of this Warrant and the form of assignment attached hereto to any transferee designated by Holder. The transferee shall
sign an investment letter in form and substance reasonably satisfactory to the Company.

 

10. LOST, STOLEN, MUTILATED OR DESTROYED WARRANT. If this Warrant
is lost, stolen, mutilated or destroyed, the Company may, on such terms as to indemnity or otherwise as it may reasonably impose (which
shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination and tenor as the Warrant
so lost, stolen, mutilated or destroyed and in lieu thereof.

 

     

     

    

 

11. MODIFICATIONS AND WAIVER. This Warrant and any provision hereof
may be changed, waived, discharged or terminated only by an instrument in writing signed by the Company and either (i) Purchasers
holding Warrants representing at least 75% of the number of Exercise Shares then issuable upon exercise of all Warrants sold pursuant
to the Purchase Agreement, provided, however, that such modification, amendment or waiver is made with respect to all Warrants
and does not adversely affect the Holder in a manner different than all other holders of Warrants; or (ii) the Holder.

 

12. NOTICES, ETC. All notices required or permitted hereunder shall
be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by
confirmed email or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five
days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one business day after
deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications
shall be sent to the Company at the address listed on the signature page and to the Holder at the address on the Company records, or at
such other address as the Company or Holder may designate by 10 days’ advance written notice to the other party hereto.

 

13. ACCEPTANCE. Receipt of this Warrant by the Holder shall constitute
acceptance of and agreement to all of the terms and conditions contained herein.

 

14. GOVERNING LAW. This Warrant and all rights, obligations and
liabilities hereunder shall be governed by the laws of the State of Delaware without regard to the principles of conflict of laws.

 

15. DESCRIPTIVE HEADINGS. The descriptive headings of the several
paragraphs of this Warrant are inserted for convenience only and do not constitute a part of this Warrant. The language in this Warrant
shall be construed as to its fair meaning without regard to which party drafted this Warrant.

 

16. SEVERABILITY. The invalidity or unenforceability of any provision
of this Warrant in any jurisdiction shall not affect the validity or enforceability of such provision in any other jurisdiction, or affect
any other provision of this Warrant, which shall remain in full force and effect.

 

17. PAYMENT OF ENFORCEMENT OR OTHER COSTS. If (a) this Warrant is
placed in the hands of an attorney for collection or enforcement or is enforced through any legal proceeding or the Holder otherwise takes
action to enforce the provisions of this Warrant or (b) there occurs any bankruptcy, reorganization, receivership of the Company or other
proceedings affecting Company creditors’ rights and involving a claim under this Warrant, then the Company shall pay the costs incurred
by the Holder for such enforcement or action or in connection with such bankruptcy, reorganization, receivership or other proceeding,
including, without limitation, attorneys’ fees and disbursements.

 

18. ENTIRE AGREEMENT. This Warrant and the Purchase Agreement (including
the schedules and exhibits) constitute the entire agreement between the parties pertaining to the subject matter contained in it and supersedes
all prior and contemporaneous agreements, representations, and undertakings of the parties, whether oral or written, with respect to such
subject matter.

 

[Signature Page Follows]

 

 

     

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Warrant to be executed by its duly authorized officer as of August 19, 2021.

 

	 	 	 
	PALISADE BIO, INC.	 
	 	 	 
	By:	
    /s/ Thomas M. Hallam

    
	 
	 	 	 
	Name:	
    Thomas M. Hallam

    
	 
	 	 	 
	Title:	Chief Executive Officer	 
	 	 	 
	Address:	
    5800 Armada Drive

    

    Suite 210

    

    Carlsbad, CA 92008

    
	 

 

 

 

 

 

 

 

     

     

    

 

NOTICE OF EXERCISE 

 

TO: PALISADE BIO, INC. 

 

(1) The undersigned hereby elects to (check
one box only):

 

q purchase
         shares of the Common Stock of Palisade Bio, Inc. (the “Company”)
pursuant to the terms of the attached Warrant, and tenders herewith payment of the exercise price in full for such shares, together with
all applicable transfer taxes, if any.

 

q purchase
the number of shares of Common Stock of the Company by cashless exercise pursuant to the terms of the Warrant as shall be issuable upon
cashless exercise of the portion of the Warrant relating to          shares, and shall
tender payment of all applicable transfer taxes, if any.

 

(2) Please issue a certificate or certificates
representing said shares of Common Stock in the name of the undersigned or in such other name as is specified below:

 

	 	 
	
	 
	(Name)	 
	 	 
	
	 
	(Address)	 

 

(3) The undersigned represents that (i) the
undersigned is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the
Company to reach an informed and knowledgeable decision regarding its investment in the Company; (ii) the undersigned is experienced
in making investments of this type and has such knowledge and background in financial and business matters that the undersigned is capable
of evaluating the merits and risks of this investment and protecting the undersigned’s own interests; (iii) the undersigned
understands that the issuance of the shares of Common Stock issuable upon exercise of this Warrant has not been registered under the Securities
Act of 1933, as amended (the “Securities Act”); (iv) the undersigned is aware that the aforesaid shares
of Common Stock may not be sold pursuant to Rule 144 adopted under the Securities Act unless certain conditions are met, including a condition
that the undersigned has held or is deemed to have held the shares for the time period prescribed by Rule 144; and (v) the undersigned
agrees not to make any disposition of all or any part of the aforesaid shares of Common Stock unless and until there is then in effect
a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with said
registration statement, or such disposition is not required to be registered pursuant to the Securities Act or any applicable state securities
laws.

 

	 	 	 
	
	 	

	(Date)	 	(Signature)
	 	 	 
	 	 	

	 	 	(Print name)

 

 

 

     

     

    

 

ASSIGNMENT FORM 

 

(To assign the foregoing Warrant, subject to compliance with Section 4.3
thereof, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing Warrant and
all rights evidenced thereby are hereby assigned to

 

	 
	Name:
	 
	
 

	(Please Print)
	 
	Address:
	 
	
 

	(Please Print)

 

	 
	Dated:            , 20    

 

	 	 	 
	Holder’s	 	 
	Signature:	
	 
	 	 	 
	Holder’s	 	 
	Address:	
	 

 

NOTE: The signature to this Assignment Form must correspond with
the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatever. Officers of corporations
and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.Exhibit
4.7

  

THE REGISTERED HOLDER OF THIS PURCHASE OPTION
BY ITS ACCEPTANCE HEREOF AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED AND THE REGISTERED
HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION OR CAUSE IT
TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION
OF THE PURCHASE OPTION BY ANY PERSON FOR A PERIOD OF ONE YEAR (INCLUDING THE ONE HUNDRED EIGHTY DAY PERIOD REQUIRED BY FINRA RULE 5110(E)(1))
FOLLOWING THE EFFECTIVE DATE (AS DEFINED HEREIN) TO ANYONE OTHER THAN TO (I) MAXIM GROUP LLC (“MAXIM”) OR AN UNDERWRITER
OR SELECTED DEALER PARTICIPATING IN THE OFFERING OR (II) AN OFFICER OR PARTNER, REGISTERED PERSON OR AFFILIATE OF MAXIM OR OF ANY SUCH
UNDERWRITER OR SELECTED DEALER AND IN ACCORDANCE WITH FINRA RULE 5110(E) (2).

 

THIS
PURCHASE OPTION IS EXERCISABLE COMMENCING ON THE LATER OF THE FIRST ANNIVERSARY OF THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT
OF GOLDENSTONE ACQUISITION LIMITED (“COMPANY”) AND THE CONSUMMATION OF AN INITIAL BUSINESS COMBINATION AS
DESCRIBED MORE FULLY IN THE COMPANY’S REGISTRATION STATEMENT (DEFINED HEREIN))] AND [●]1. VOID AFTER 5:00
P.M. NEW YORK CITY LOCAL TIME, ON THE EARLIER OF THE LIQUIDATION OF THE COMPANY’S TRUST ACCOUNT (AS DESCRIBED IN THE
REGISTRATION STATEMENT) IF THE COMPANY HAS NOT COMPLETED A MERGER, SHARE EXCHANGE, ASSET ACQUISITION, RECAPITALIZATION,
REORGANIZATION OR OTHER SIMILAR BUSINESS COMBINATION (“BUSINESS COMBINATION”) WITHIN THE REQUIRED TIME PERIODS OR
[●]2.

 

UNIT
PURCHASE OPTION FOR THE PURCHASE OF UP TO 270,250 UNITS OF GOLDENSTONE

 ACQUISITION LIMITED

 

1.
PURCHASE OPTION.

 

THIS CERTIFIES THAT, in consideration
of $100.00 duly paid by or on behalf of Maxim Group LLC (“Holder”), as registered owner of this Purchase
Option, to Company, a Delaware corporation, Holder is entitled, at any time or from time to time on or after the later of the first
anniversary of the effective date (“Effective Date”) of the Registration Statement and the consummation of
an initial business combination (“Commencement Date”), (as described in the Company’s registration
statement (“Registration Statement”) pursuant to which Units are offered for sale to the public in
Company’s initial public offering (“Offering”)) until five years from the Effective Date of the
Registration Statement (“Expiration Date”), but not thereafter, to subscribe for, purchase and receive, in
whole or in part, up to Two Hundred Thirty-Five Thousand (235,000) units (or up to Two Hundred Seventy Thousand Two Hundred Fifty
(270,250) units with full exercise of the over-allotment option in the offering) (“Units”) of the Company,
each Unit consisting of one (1) share of common stock of the Company, par value 0.0001 per share (“Common
Stock(s)”), one redeemable warrant (“Warrant(s)”), each whole Warrant entitling the holder thereof to
purchase one-half (1/2) of one share of Common Stock, and one (1) right to receive one-tenth (1/10) of one share of Common Stock
upon the consummation of a Business Combination (“Right(s)”). Each Right is the same as the right included in the
units being registered for sale to the public by way of the Registration Statement (“Public Rights”). Each
Warrant is the same as the whole warrant included in the Units being registered for sale to the public by way of the Registration
Statement (the “Public Warrants”). If the Expiration Date is a day on which banking institutions are authorized
by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with
the terms herein. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate
the Purchase Option. This Purchase Option is initially exercisable at $11.00 per Unit so purchased; provided, however,
that upon the occurrence of any of the events specified in Section 6 hereof , the rights granted by this Purchase Option,
including the exercise price per Unit and the number of Units (and Common Stock, Warrants and Rights) to be received upon such
exercise, shall be adjusted as therein specified. The term “Exercise Price” shall mean the initial exercise price
or the adjusted exercise price, depending on the context.

 

 

	1	Insert
date that is one (1) year from the effective date of the registration statement.

	2	Insert
date that is five (5) years from the effective date of the registration statement.

 

     

     

    

  

2.
EXERCISE OF PURCHASE OPTION.

 

2.1
Exercise Form. In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed and completed
and delivered to the Company, together with this Purchase Option and payment of the Exercise Price for the Units being purchased payable
in cash or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised at or before
5:00 p.m., New York City local time, on the Expiration Date, this Purchase Option shall become and be void without further force or effect,
and all rights represented hereby shall cease and expire.

 

2.2
Legend. Each certificate for the securities purchased under this Purchase Option shall bear a legend as follows, unless such securities
have been registered under the Securities Act of 1933, as amended (“Act”):

 

“The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (“Act”)
or applicable state law. The securities may not be offered for sale, sold or otherwise transferred except pursuant to an effective registration
statement under the Act, or pursuant to an exemption from registration under the Act and applicable state law.”

 

2.3
Cashless Exercise. 

 

2.3.1
Determination of Amount. In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase
Option is exercisable (and in lieu of being entitled to receive Common Stock and Warrants) in the manner required by Section 2.1 ,
and subject to Section 6.1  hereof, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised
portion of this Purchase Option into Units (“Cashless Exercise Right”) as follows: upon exercise of the Cashless
Exercise Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number
of Units (or that number of Common Stock, Warrants and Rights comprising that number of Units) equal to the number of Units to be exercised
multiplied by the quotient obtained by dividing (x) the “Value” (as defined below) of the portion of the Purchase Option
being converted by (y) the Current Market Value (as defined below). The “Value” of the portion of the Purchase
Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of
Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number
of Units underlying the portion of the Purchase Option being converted. As used herein, the term “Current Market Value”
per Unit at any date means: (A) in the event that the Units, Common Stock, Public Warrants, and Public Rights are still trading, (i)
if the Units are listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange), the average reported
last sale price of the Units in the principal trading market for the Units as reported by the exchange, Nasdaq or the Financial Industry
Regulatory Authority (“FINRA”), as the case may be, for the three trading days preceding the date in question;
or (ii) if the Units are not listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange), but
is traded in the residual over-the-counter market, the average reported last sale price for Units for the three trading days preceding
the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; (B) in the
event that the Units are not still trading but the Common Stock, Public Warrants, and Public Rights underlying the Units are still trading,
the aggregate of (i) the product of (x) the Current Market Price of the Common Stock and (y) the number of the Common Stock underlying
one Unit (which shall include the portion of an Common Stock the holder of a Unit would automatically receive in connection with the
Right included in each such Unit), plus (ii) the product of (x) the Current Market Price of the Public Warrants and (y) the number of
Warrants included in one Unit; or (C) in the event that neither the Units nor the Public Warrants are still trading, the aggregate of
(i) the product of (x) the Current Market Price of the Common Stock and (y) the number of the Common Stock underlying one Unit (which
shall include the portion of an Common Stock the holder of a Unit would automatically receive in connection with the Right included in
each such Unit), plus (ii) the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of
Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) the product of (aa) the Current Market Price of the
Common Stock multiplied by (bb) the number of Ordinary Shares underlying the Warrants included in each such Unit. The “Current
Market Price” shall mean (i) if the Common Stock (or Public Warrants, as the case may be) are listed on a national securities exchange
or quoted on the OTC Bulletin Board (or successor exchange), the average reported last sale price of the Common Stock (or Public Warrants)
in the principal trading market for the Common Stock (or Public Warrants) as reported by the exchange, Nasdaq or FINRA, as the case may
be, for the three trading days preceding the date in question; (ii) if the Common Stock (or Public Warrants) are not listed on a national
securities exchange or quoted on the OTC Bulletin Board (or successor exchange), but are traded in the residual over-the-counter market,
the average reported last sale price for the Common Stock (or Public Warrants) on for the three (3) trading days preceding the date in
question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair
market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the
Company shall determine, in good faith. In the event the Public Warrants have expired and are no longer exercisable, no “Value”
shall be attributed to Warrants underlying this Purchase Options.

 

    2

     

    

 

2.3.2
Mechanics of Cashless Exercise. The Cashless Exercise Right may be exercised by the Holder on any business day on or after the
Commencement Date and not later than the Expiration Date by delivering the Purchase Option with the duly executed exercise form attached
hereto with the cashless exercise section completed to the Company, exercising the Cashless Exercise Right and specifying the total number
of Units the Holder will purchase pursuant to such Cashless Exercise Right

 

2.4
No Obligation to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Option, in no event will
the Company be required to net cash settle the exercise of the Purchase Option or Warrants underlying the Purchase Option. The holder
of the Purchase Option and Warrants underlying the Purchase Option will not be entitled to exercise the Purchase Option or the Warrants
underlying such Purchase Option unless it exercises such Purchase Option pursuant to the Cashless Exercise Right or a registration statement
is effective, or an exemption from the registration requirements is available at such time and, if the holder is not able to exercise
the Purchase Option or underlying Warrants, the Purchase Option and/or the underlying Warrants, as applicable, will expire worthless.

  

3.
TRANSFER OF PURCHASE OPTION.

 

3.1
General Restrictions. The registered Holder of this Purchase Option, by its acceptance hereof, agrees that it will not sell,
transfer, assign, pledge or hypothecate this Purchase Option (or the Common Stock and Warrants underlying this Purchase Option), or cause
the Purchase Option (or the Common Stock and Warrants underlying this Purchase Option) to be the subject of any hedging, short sale,
derivative, put, or call transaction that would result in the effective economic disposition of the Purchase Option by any person, for
a period of 360 days (including the 180 day period required by Rule 5110(e)(1) of the Conduct Rules of FINRA) following the Effective
Date to anyone other than (i) Maxim or an underwriter or selected dealer in connection with the Offering, or (ii) a bona fide officer
or partner, associated person or affiliate of Maxim or of any such underwriter or selected dealer. On and after the 181st day following
the Effective Date, transfers to others may be made subject to compliance with or exemptions from applicable securities laws. In order
to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly executed and completed,
together with the Purchase Option and payment of all transfer taxes, if any, payable in connection therewith. The Company shall within
5 business days transfer this Purchase Option on the books of the Company and shall execute and deliver a new Purchase Option of like
tenor to the appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Units purchasable hereunder or
such portion of such number as shall be contemplated by any such assignment.

 

3.2
Restrictions Imposed by the Act. The securities evidenced by this Purchase Option shall not be transferred unless and until (i)
the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration
under the Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction of the Company
(the Company hereby agreeing that the opinion of Ellenoff Grossman & Schole LLP shall be deemed satisfactory evidence of the availability
of an exemption), or (ii) a registration statement or a post-effective amendment to the Registration Statement relating to such securities
has been filed by the Company and declared effective by the Securities and Exchange Commission (the “Commission”)
and compliance with applicable state securities law has been established.

 

4.
NEW PURCHASE OPTION TO BE ISSUED.

 

4.1
Partial Exercise or Transfer. Subject to the restrictions in Section 3  hereof, this Purchase Option may be exercised
or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Option
for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price (except
to the extent that the Holder elects to exercise this Purchase Option by means of a cashless exercise as provided in Section 2.3 above)
and/or transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option of like tenor to this
Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the number of Units purchasable hereunder as
to which this Purchase Option has not been exercised or assigned

  

    3

     

    

 

4.2
Lost Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of
this Purchase Option and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a
new Purchase Option of like tenor and date. Any such new Purchase Option executed and delivered as a result of such loss, theft, mutilation
or destruction shall constitute a substitute contractual obligation on the part of the Company.

 

5.
REGISTRATION RIGHTS.

 

5.1
Demand Registration.

 

5.1.1
Grant of Right. The Company, upon written demand (“ Initial Demand Notice ”) of the Holder(s) of at
least 51% of the Purchase Option and/or the underlying Units and/or the underlying securities (“Majority Holders”),
agrees to use its best efforts to register (the “Demand Registration”) under the Act on one occasion, all or
any portion of the (i) Purchase Option requested by the Majority Holders in the Initial Demand Notice and all of the securities underlying
such Purchase Option, including the Units, Common Stock, Warrants, Rights and the Common Stock underlying the Warrants and Rights and
(ii) the securities issued to the Holder prior to or concurrently with the Offering and all the securities underlying such securities
(collectively, the “Registrable Securities”). On such occasion, the Company will use its best efforts to file
a registration statement or a post-effective amendment to the Registration Statement covering the Registrable Securities as expeditiously
as possible within sixty (60) days after receipt of the Initial Demand Notice and use its best efforts to have such registration statement
or post-effective amendment declared effective as soon as possible thereafter. The demand for registration may be made at any time during
a period of four and one-half years beginning 180 days after the Effective Date. The Initial Demand Notice shall specify the number of
shares of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof. The Company will notify all
holders of the Purchase Option and/or Registrable Securities of the demand within ten days from the date of the receipt of any such Initial
Demand Notice. Each holder of Registrable Securities who wishes to include all or a portion of such holder’s Registrable Securities
in the Demand Registration (each such holder including shares of Registrable Securities in such registration, a “Demanding
Holder”) shall so notify the Company within fifteen (15) days after the receipt by the holder of the notice from the Company.
Upon any such request, the Demanding Holders shall be entitled to have their Registrable Securities included in the Demand Registration,
subject to Section 5.1.4 . The Company shall not be required to effect more than one (1) Demand Registrations under this Section
5.1 in respect of all Registrable Securities. 

 

    4

     

    

  

5.1.2
Effective Registration. Notwithstanding Section 5.1.5 , a registration will not count as a Demand Registration until the
registration statement filed with the Commission, with respect to such Demand Registration, has been declared effective and the Company
has complied with all of its obligations under this Purchase Option with respect thereto.

 

5.1.3
Underwritten Offering. If the Majority Holders so elect and such holders so advise the Company as part of the Initial Demand Notice,
the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering. In
such event, the right of any holder to include its Registrable Securities in such registration shall be conditioned upon such holder’s
participation in such underwriting and the inclusion of such holder’s Registrable Securities in the underwriting to the extent
provided herein. All Demanding Holders proposing to distribute their securities through such underwriting shall enter into an underwriting
agreement in customary form with the underwriter or underwriters selected for such underwriting by the Majority Holders.

 

5.1.4 Reduction of Offering.
If the managing underwriter or underwriters for a Demand Registration that is to be an underwritten offering advises the Company and
the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities which the Demanding Holders desire
to sell, taken together with all other Common Stock or other securities which the Company desires to sell and the Common Stock, if any,
as to which registration has been requested pursuant to written contractual piggy-back registration rights held by other shareholders
of the Company who desire to sell, exceeds the maximum dollar amount or maximum number of shares that can be sold in such offering without
adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering
(such maximum dollar amount or maximum number of shares, as applicable, the “Maximum Number of Shares”), then
the Company shall include in such registration: (i) first, the Registrable Securities as to which Demand Registration has been requested
by the Demanding Holders (pro rata in accordance with the number of shares that each such person has requested be included in such registration,
regardless of the number of shares held by each such person (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clause (i), the Common Stock or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (i) and (ii), the Common Stock or other securities registrable pursuant to the terms of the Registration Rights Agreement between
the Company and the initial investors in the Company and Maxim, dated as of [●] (the “Registration Rights Agreement”
and such registrable securities, the “Investor Securities”) as to which “piggy-back” registration
has been requested by the holders thereof, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; and (iv) fourth,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii), and (iii), the Common Stock
or other securities for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements
with such persons and that can be sold without exceeding the Maximum Number of Shares.

 

5.1.5
Withdrawal. If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled
to include all of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw
from such offering by giving written notice to the Company and the underwriter or underwriters of their request to withdraw prior to
the effectiveness of the registration statement filed with the Commission with respect to such Demand Registration. If the majority-in-interest
of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration, then the Company does not have to continue
its obligations under Section 5.1 , provided that, any such withdrawal will not count as the Demand Registration if the
Demanding Holders pay all of the Company’s out-of-pocket expenses, with respect to such withdrawn registration.

 

    5

     

    

  

5.1.6
Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses
of one legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities, but the Holders
shall pay any and all underwriting commissions. The Company agrees to use its reasonable best efforts to qualify or register the Registrable
Securities in such states as are reasonably requested by the Majority Holder(s); provided, however, that in no event shall
the Company be required to register the Registrable Securities in a state in which such registration would cause (i) the Company to be
obligated to qualify to do business in such state, or would subject the Company to taxation as a foreign corporation doing business in
such jurisdiction or (ii) the principal shareholders of the Company to be obligated to escrow their shares of capital stock of the Company.
The Company shall use its best efforts to cause any registration statement or post-effective amendment filed pursuant to the demand rights
granted under Section 5.1.1  to remain effective for a period of nine consecutive months from the effective date of such registration
statement or post-effective amendment.

 

5.2
Piggy-Back Registration.

 

5.2.1 Piggy-Back Rights.
If at any time during the seven year period commencing on the Effective Date the Company proposes to file a registration statement under
the Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible
into, equity securities, by the Company for its own account or for shareholders of the Company for their account (or by the Company and
by shareholders of the Company including, without limitation, pursuant to Section 5.1 ), other than a registration statement (i)
filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities solely
to the Company’s existing shareholders, (iii) for an offering of debt that is convertible into equity securities of the Company
or (iv) for a dividend reinvestment plan, then the Company shall (x) give written notice of such proposed filing to the holders of Registrable
Securities as soon as practicable but in no event less than ten (10) days before the anticipated filing date, which notice shall describe
the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed
managing underwriter or underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice
the opportunity to register the sale of such number of shares of Registrable Securities as such holders may request in writing within
five (5) days following receipt of such notice (a “Piggy-Back Registration”). The Company shall cause such
Registrable Securities to be included in such registration and shall use its best efforts to cause the managing underwriter or underwriters
of a proposed underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration on the
same terms and conditions as any similar securities of the Company and to permit the sale or other disposition of such Registrable Securities
in accordance with the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute their
securities through a Piggy-Back Registration that involves an underwriter or underwriters shall enter into an underwriting agreement
in customary form with the underwriter or underwriters selected for such Piggy-Back Registration.

 

5.2.2
Reduction of Offering. If the managing underwriter or underwriters for a Piggy-Back Registration that is to be an underwritten
offering advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of Common Stock which
the Company desires to sell, taken together with Common Stock, if any, as to which registration has been demanded pursuant to written
contractual arrangements with persons other than the holders of Registrable Securities hereunder, the Registrable Securities as to which
registration has been requested under this Section 5.2 , and the Common Stock, if any, as to which registration has been requested
pursuant to the written contractual piggy-back registration rights of other shareholders of the Company, exceeds the Maximum Number of
Shares, then the Company shall include in any such registration:

 

(a)
If the registration is undertaken for the Company’s account: (A) first, Common Stock or other securities that the Company desires
to sell that can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares
has not been reached under the foregoing clause (A), the Common Stock or other securities, if any, comprised of Registrable Securities
and Investor Securities, as to which registration has been requested pursuant to the applicable written contractual piggy-back registration
rights of such security holders, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; and (C) third, to the extent
that the Maximum Number of shares has not been reached under the foregoing clauses (A) and (B), the Common Stock or other securities
for the account of other persons that the Company is obligated to register pursuant to written contractual piggy-back registration rights
with such persons and that can be sold without exceeding the Maximum Number of Shares;

 

(b)
If the registration is a “demand” registration undertaken at the demand of holders of Investor Securities, (A) first,
the Common Stock or other securities for the account of the demanding persons, Pro Rata, that can be sold without exceeding the
Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (A), the Common Stock or other securities that the Company desires to sell that can be sold without exceeding the Maximum
Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A)
and (B), the shares of Registrable Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof,
that can be sold without exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has
not been reached under the foregoing clauses (A), (B) and (C), the Common Stock or other securities for the account of other persons
that the Company is obligated to register pursuant to written contractual arrangements with such persons, that can be sold without
exceeding the Maximum Number of Shares; and

 

    6

     

    

  

(c)
If the registration is a “demand” registration undertaken at the demand of persons other than either the holders of Registrable
Securities or of Investor Securities, (A) first, the Common Stock or other securities for the account of the demanding persons that can
be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clause (A), the Common Stock or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses
(A) and (B), collectively the Common Stock or other securities comprised of Registrable Securities and Investor Securities, Pro Rata,
as to which registration has been requested pursuant to the terms hereof and of the Registration Rights Agreement, as applicable, that
can be sold without exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clauses (A), (B) and (C), the Common Stock or other securities for the account of other persons that the
Company is obligated to register pursuant to written contractual arrangements with such persons, that can be sold without exceeding the
Maximum Number of Shares.

 

5.2.3
Withdrawal. Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable
Securities in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness
of the registration statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand
pursuant to written contractual obligations) may withdraw a registration statement at any time prior to the effectiveness of the registration
statement. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities
in connection with such Piggy-Back Registration as provided in Section 5.2.4 .

 

5.2.4
Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses
of one legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities but the Holders
shall pay any and all underwriting commissions related to the Registrable Securities. In the event of such a proposed registration, the
Company shall furnish the then Holders of outstanding Registrable Securities with not less than fifteen days written notice prior to
the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for each applicable
registration statement filed (during the period in which the Purchase Option is exercisable) by the Company until such time as all of
the Registrable Securities have been registered and sold. The Holders of the Registrable Securities shall exercise the “piggy-back”
rights provided for herein by giving written notice within ten days of the receipt of the Company’s notice of its intention to
file a registration statement. The Company shall use its best efforts to cause any registration statement filed pursuant to the above
“piggyback” rights to remain effective for at least nine months from the date that the Holders of the Registrable Securities
are first given the opportunity to sell all of such securities.

 

5.3
General Terms.

 

5.3.1
Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration
statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Act or Section 20(a) of
the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage, expense
or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending
against litigation, commenced or threatened, or any claim whatsoever whether arising out of any action between the underwriter and the
Company or between the underwriter and any third party or otherwise) to which any of them may become subject under the Act, the Exchange
Act or otherwise, arising from such registration statement but only to the same extent and with the same effect as the provisions pursuant
to which the Company has agreed to indemnify the underwriters contained in Section 5 of the Underwriting Agreement between the Company,
Maxim and the other underwriters named therein dated the Effective Date (“Underwriting Agreement ”). The Holder(s)
of the Registrable Securities to be sold pursuant to such registration statement, and their successors and assigns, shall severally,
and not jointly, indemnify the Company, its officers and directors and each person, if any, who controls the Company within the meaning
of Section 15 of the Act or Section 20(a) of the Exchange Act, against all loss, claim, damage, expense or liability (including all reasonable
attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to
which they may become subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such
Holders, or their successors or assigns for specific inclusion in such registration statement or arising from any omission or the alleged
omission to state a material fact required to be stated therein or necessary to make the statement contained therein not misleading in
connection with the registration of the Registrable Securities, to the same extent and with the same effect as the provisions contained
in Section 5 of the Underwriting Agreement pursuant to which the underwriters have agreed to indemnify the Company.

  

    7

     

    

 

5.3.2
Exercise of Purchase Option. Nothing contained in this Purchase Option shall be construed as requiring the Holder(s) to exercise
their Purchase Option or Warrants underlying such Purchase Option prior to or after the initial filing of any registration statement
or the effectiveness thereof.

 

5.3.3
Documents Delivered to Holders. The Company shall furnish Maxim, for as long as it is a Holder, as representative of the Holders
participating in any of the foregoing offerings, a signed counterpart, addressed to the participating Holders, of (i) an opinion of counsel
to the Company, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering,
an opinion dated the date of the closing under any underwriting agreement related thereto), and (ii) a “cold comfort” letter
dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, a letter
dated the date of the closing under the underwriting agreement) signed by the independent public accountants who have issued a report
on the Company’s financial statements included in such registration statement, in each case covering substantially the same matters
with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants’ letter,
with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s
counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of securities. The Company shall
also deliver promptly to Maxim, as representative of the Holders participating in the offering, the correspondence and memoranda described
below and copies of all correspondence between the Commission and the Company, its counsel or auditors and all memoranda relating to
discussions with the Commission or its staff with respect to the registration statement and permit Maxim, as representative of the Holders,
to do such investigation, upon reasonable advance notice, with respect to information contained in or  from the registration statement
as it deems reasonably necessary to comply with applicable securities laws or rules of FINRA. Such investigation shall include access
to books, records and properties and opportunities to discuss the business of the Company with its officers and independent auditors,
all to such reasonable extent and at such reasonable times and as often as Maxim, as representative of the Holders, shall reasonably
request. The Company shall not be required to disclose any confidential information or other records to Maxim, as representative of the
Holders, or to any other person, until and unless such persons shall have entered into reasonable confidentiality agreements (in form
and substance reasonably satisfactory to the Company), with the Company with respect thereto.

 

5.3.4
Underwriting Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected
by any Holders whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter shall be reasonably
acceptable to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder and such
managing underwriters, and shall contain such representations, warranties and covenants by the Company and such other terms as are customarily
contained in agreements of that type used by the managing underwriter. The Holders shall be parties to any underwriting agreement relating
to an underwritten sale of their Registrable Securities and may, at their option, require that any or all the representations, warranties
and covenants of the Company to or for the benefit of such underwriters shall also be made to and for the benefit of such Holders. Such
Holders shall not be required to make any representations or warranties to or agreements with the Company or the underwriters except
as they may relate to such Holders and their intended methods of distribution. Such Holders, however, shall agree to such covenants and
indemnification and contribution obligations for selling shareholders as are customarily contained in agreements of that type used by
the managing underwriter. Further, such Holders shall execute appropriate custody agreements and otherwise cooperate fully in the preparation
of the registration statement and other documents relating to any offering in which they include securities pursuant to this Section
5. Each Holder shall also furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended
method of disposition of such securities as shall be reasonably required to effect the registration of the Registrable Securities.

 

    8

     

    

  

5.3.5
Rule 144 Sale. Notwithstanding anything contained in this Section 5  to the contrary, the Company shall have no obligation
pursuant to Sections 5.1  or 5.2  to use its best efforts to obtain the registration of Registrable Securities held by
any Holder (i) where such Holder would then be entitled to sell under Rule 144 within any three-month period (or such other period prescribed
under Rule 144 as may be provided by amendment thereof) all of the Registrable Securities then held by such Holder, or (ii) where the
number of Registrable Securities held by such Holder is within the volume limitations under paragraph (e) of Rule 144 (calculated as
if such Holder were an affiliate within the meaning of Rule 144).

 

5.3.6
Supplemental Prospectus. Each Holder agrees, that upon receipt of any notice from the Company of the happening of any event as
a result of which the prospectus included in the registration statement, as then in effect, includes an untrue statement of a material
fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light
of the circumstances then existing, such Holder will immediately discontinue disposition of Registrable Securities pursuant to the registration
statement covering such Registrable Securities until such Holder’s receipt of the copies of a supplemental or amended prospectus,
and, if so desired by the Company, such Holder shall deliver to the Company (at the expense of the Company) or destroy (and deliver to
the Company a certificate of such destruction) all copies, other than permanent file copies then in such Holder’s possession, of
the prospectus covering such Registrable Securities current at the time of receipt of such notice.

 

6.
ADJUSTMENTS.

 

6.1 Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Units underlying the Purchase Option shall be
subject to adjustment from time to time as hereinafter set forth:

 

6.1.1
Stock Dividends - Split-Ups. If after the date hereof, and subject to the provisions of Section 6.3  below, the number
of outstanding Common Stock is increased by a stock dividend payable in Common Stock or by a split-up of Common Stock or other similar
event, then, on the effective date thereof, the number of Common Stock underlying each of the Units purchasable hereunder shall be increased
in proportion to such increase in outstanding shares. In such case, the number of Common Stock, and the exercise price applicable thereto,
underlying the Warrants underlying each of the Units purchasable hereunder shall be adjusted in accordance with the terms of the Warrants.

  

6.1.2
Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 6.3 , the number of outstanding
Common Stock is decreased by a consolidation, combination or reclassification of Common Stock or other similar event, then, on the effective
date thereof, the number of Common Stock underlying each of the Units purchasable hereunder shall be decreased in proportion to such
decrease in outstanding shares and the Exercise Price shall be proportionately increased. In such case, the number of Common Stock, and
the exercise price applicable thereto, underlying the Warrants underlying each of the Units purchasable hereunder shall be adjusted in
accordance with the terms of the Warrants.

 

6.1.3
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Common
Stock other than a change covered by Section 6.1.1  or 6.1.2  hereof or that solely affects the par value of such Common
Stock, or in the case of any merger or consolidation of the Company with or into another company (other than a consolidation or merger
in which the Company is the continuing entity and that does not result in any reclassification or reorganization of the outstanding Common
Stock), or in the case of any sale or conveyance to another company or entity of the property of the Company as an entirety or substantially
as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Option shall have the right thereafter
(until the expiration of the right of exercise of this Purchase Option) to receive upon the exercise hereof, for the same aggregate Exercise
Price payable hereunder immediately prior to such event, the kind and amount of shares or other securities or property (including cash)
receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer,
by a Holder of the number of Common Stock of the Company obtainable upon exercise of this Purchase Option and the underlying Warrants
immediately prior to such event; and if any reclassification also results in a change in Common Stock covered by Section 6.1.1 or
6.1.2 , then such adjustment shall be made pursuant to Sections 6.1.1 , 6.1.2  and this Section 6.1.3 . The
provisions of this Section 6.1.3  shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations,
sales or other transfers.

 

    9

     

    

  

6.1.4
Changes in Form of Purchase Option. This form of Purchase Option need not be changed because of any change pursuant to this Section,
and a Purchase Option issued after such change may state the same Exercise Price and the same number of Units as are stated in the Purchase
Option as initially issued. The acceptance by any Holder of the issuance of a new Purchase Option reflecting a required or permissive
change shall not be deemed to waive any rights to an adjustment occurring after the Commencement Date or the computation thereof.

 

6.2
Substitute Purchase Option. In case of any consolidation of the Company with, or merger of the Company with, or merger of the
Company into, another entity (other than a consolidation or merger which does not result in any reclassification or change of the outstanding
Common Stock), the entity formed by such consolidation or merger shall execute and deliver to the Holder a supplemental Purchase Option
providing that the holder of each Purchase Option then outstanding or to be outstanding shall have the right thereafter (until the stated
expiration of such Purchase Option) to receive, upon exercise of such Purchase Option, the kind and amount of shares and other securities
and property receivable upon such consolidation or merger, by a holder of the number of Common Stock of the Company for which such Purchase
Option might have been exercised immediately prior to such consolidation, merger, sale or transfer. Such supplemental Purchase Option
shall provide for adjustments which shall be identical to the adjustments provided in Section 6 . The above provision of this
Section shall similarly apply to successive consolidations or mergers.

 

6.3 Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Common Stock or
Warrants upon the exercise of the Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional
interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down
to the nearest whole number of Warrants, Common Stock or other securities, properties or rights.

 

7.
RESERVATION AND LISTING. The Company shall at all times reserve and keep available out of its authorized but unissued Common Stock,
solely for the purpose of issuance upon exercise of the Purchase Option (including the Common Stock underlying the Rights) or the Warrants,
such number of Common Stock or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants
and agrees that, upon exercise of the Purchase Option and payment of the Exercise Price therefor, all Common Stock and other securities
issuable upon such exercise shall be duly and validly issued, fully paid and non- assessable and not subject to preemptive rights of
any shareholder. The Company further covenants and agrees that upon exercise of the Warrants underlying the Purchase Option and payment
of the respective Warrant exercise price therefor, all Common Stock and other securities issuable upon such exercise shall be duly and
validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholders. As long as the Purchase Option
shall be outstanding, the Company shall use its best efforts to cause all (i) Units and Common Stock issuable upon exercise of the Purchase
Option, (ii) Warrants issuable upon exercise of the Purchase Option, (iii) Common Stock issuable upon exercise of the Warrants included
in the Units issuable upon exercise of the Purchase Option, (iv) Rights issuable upon exercise of the Purchase Option and (v) Common
Stock underlying the Rights included in the Units issuable upon exercise of the Purchase Option to be listed and/or quoted (subject to
official notice of issuance) on all securities exchanges (or, if applicable, on the OTC Bulletin Board or OTC Markets Group, Inc. or
any successor trading market) on which the Common Stock or the Public Warrants may then be listed and/or quoted.

 

8.
CERTAIN NOTICE REQUIREMENTS.

 

8.1 Holder
’s Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent
as a shareholders for the election of directors or any other matter, or as having any rights whatsoever as a shareholders of the
Company. If, however, at any time prior to the expiration of the Purchase Option and its exercise, any of the events described in Section
8.2  shall occur, then, in each such event, the Company shall give written notice of such event at least fifteen days prior to
the date fixed as a record date or the date of closing the transfer books for the determination of the shareholders entitled to such
dividend, distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such proposed
dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing of the transfer
books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each notice given to
the other shareholders of the Company at the same time and in the same manner that such notice is given to the
shareholders.

 

    10

     

    

 

8.2
Events Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the
following events: (i) if the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive
a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained
earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company
shall offer to all the holders of its Common Stock any additional shares of capital stock of the Company or securities convertible into
or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution,
liquidation or winding up of the Company (other than in connection with a consolidation or merger) or a sale of all or substantially
all of its property, assets and business shall be proposed.

 

8.3
Notice of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant
to Section 6 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice
shall describe the event causing the change and the method of calculating same and shall be certified as being true and accurate by the
Company’s Chief Executive Officer.

 

8.4
Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Option shall be in writing
and shall be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered
Holder of the Purchase Option, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company, to the
following address or to such other address as the Company may designate by notice to the Holders:

 

Eddie
Ni

Chief
Executive Officer

4360
E New York St.

Aurora,
IL 60504

Tel:
330-352-7788

 

9.
MISCELLANEOUS.

 

9.1
Amendment The Company and Maxim, for as long as it is a Holder, may from time to time supplement or amend this Purchase Option
without the approval of any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained herein that
may be defective or inconsistent with any other provisions herein, or to make any other provisions in regard to matters or questions
arising hereunder that the Company and Maxim may deem necessary or desirable and that the Company and Maxim deem shall not adversely
affect the interest of the Holders. All other modifications or amendments shall require the written consent of and be signed by the party
against whom enforcement of the modification or amendment is sought.

 

9.2
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit
or affect the meaning or interpretation of any of the terms or provisions of this Purchase Option.

 

9.3
Entire Agreement. This Purchase Option (together with the other agreements and documents being delivered pursuant to or in connection
with this Purchase Option) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes
all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

9.4
Binding Effect. This Purchase Option shall inure solely to the benefit of and shall be binding upon the Holder and the Company
and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed
to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Option or any provisions herein
contained.

 

    11

     

    

  

9.5 Governing
Law; Submission to Jurisdiction. This Purchase Option shall be governed by and construed and enforced in accordance with the
laws of the State of New York, without giving effect to conflict of laws principles thereof. Each of the Holder and the Company
hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Option shall
be brought and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the Southern
District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the Holder and
the Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any
process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail,
return receipt requested, postage prepaid, addressed to it at the address set forth in Section 8.4  hereof. Such mailing
shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and
the Holder agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its
reasonable attorneys' fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation
therefore.

 

9.6
Waiver, Etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Option shall
not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option or any
provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase Option. No
waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Option shall be effective unless set
forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver
of any such breach, non-compliance or non- fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach
or non-compliance.

 

9.7
Execution in Counterparts. This Purchase Option may be executed in one or more counterparts, and by the different parties hereto
in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the
same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered
to each of the other parties hereto.

 

9.8
Exchange Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Option, Holder agrees that,
at any time prior to the complete exercise of this Purchase Option by Holder, if the Company and Maxim enter into an agreement (“Exchange
Agreement”) pursuant to which they agree that all outstanding Purchase Options will be exchanged for securities or cash or
a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

[Signature
Page Follows]

 

    12

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Purchase Option to be signed by its duly authorized officer as of the _____ day of_________,
2021.

 

	 	GOLDENSTONE ACQUISITION LIMITED
	 	 
	 	By:	 
	 	Name:  	Eddie Ni
	 	Title: 	Chief Executive Officer

  

    13

     

    

  

Form
to be used to exercise Purchase Option

 

Eddie
Ni

Chief
Executive Officer

4360
E New York St.

Aurora,
IL 60504

Tel:
330-352-7788

 

Date:
[●], 20__

 

The
undersigned hereby elects irrevocably to exercise all or a portion of the within Purchase Option and to purchase         Units of
Goldenstone Acquisition Limited and hereby makes payment of $         (at the rate of $         per Unit) in payment of the Exercise Price pursuant
thereto. Please issue the securities as to which this Purchase Option is exercised in accordance with the instructions given
below.

 

Or

 

The
undersigned hereby elects irrevocably to convert its right to purchase         Units purchasable under the within Purchase Option by surrender
of the unexercised portion of the attached Purchase Option (with a “Value” based of $         based on a “Market Price”
of $         ). Please issue the securities comprising the Units as to which this Purchase Option is exercised in accordance with the instructions
given below.

  

 

NOTICE:
The signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular, without
alteration or enlargement or any change whatever

 

Signature(s)
Guaranteed:

 

THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

INSTRUCTIONS
FOR REGISTRATION OF SECURITIES

 

Name

 

(Print in Block Letters)

 

 

Address

 

    14

     

    

 

Form
to be used to assign Purchase Option:

 

ASSIGNMENT

 

(To
be executed by the registered Holder to effect a transfer of the within Purchase Option):

FOR
VALUE RECEIVED,________________________________________ does hereby sell, assign and transfer
unto____________________________________ the right to purchase _________ Units of Goldenstone Acquisition Limited
(“Company”) evidenced by the within Purchase Option and does hereby authorize the Company to transfer such right
on the books of the Company.

 

Dated:
__________, 20__

  

	 	 
	 	Signature

  

	 	 
	 	NOTICE:
The signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular, without
alteration or enlargement or any change whatever.

  

  

Signature(s)
Guaranteed:

 

 

 

THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

 

 

15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]