Goldenstone Acquisition Limited Announces Pricing of $50 Million Initial Public Offering
March 16 2022 - 8:13PM
Goldenstone Acquisition Limited (the “Company”), a newly organized
blank check company, announced today the pricing of its initial
public offering of 5,000,000 units at an offering price of $10.00
per unit, with each unit consisting of one share of common stock,
one redeemable warrant and one right to receive one-tenth (1/10) of
one share of common stock. Each redeemable warrant entitles the
holder thereof to purchase one-half (1/2) of one share of common
stock, and each ten (10) rights entitle the holder thereof to
receive one share of common stock at the closing of a business
combination. The exercise price of the warrants is $11.50 per full
share. The units are expected to trade on the Nasdaq Capital Market
(“Nasdaq”) under the ticker symbol “GDSTU” beginning on March 17,
2022. Once the securities comprising the units begin separate
trading, the shares of common stock, warrants and rights will be
traded on Nasdaq under the symbols “GDST,” “GDSTW,” and “GDSTR,”
respectively. The offering is expected to close on March 21, 2022,
subject to customary closing conditions.
Maxim Group LLC is acting as the sole
book-running manager for the offering. The Company has granted the
underwriters a 45-day option to purchase up to an additional
750,000 units at the initial public offering price to cover
over-allotments, if any.
A registration statement on Form S-1 (File No.
333-257209) relating to the securities to be sold in the initial
public offering was declared effective by the U.S. Securities and
Exchange Commission (the “SEC”) on March 16, 2022. The offering is
being made only by means of a prospectus. When available, copies of
the prospectus relating to this offering may be obtained from Maxim
Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, or by
accessing the SEC’s website, www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Goldenstone Acquisition
Limited
Goldenstone Acquisition Limited is newly
organized Delaware blank check company formed for the purpose of
effecting a merger, share purchase, reorganization or similar
business combination with one or more businesses or entities. The
Company’s efforts to identify a prospective target business will
not be limited to a particular industry or geographic region other
than the Company has agreed that it will not undertake an initial
business combination with any entity headquartered in, or conducts
the majority of its business in China (including Hong Kong and
Macau).
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the Company’s initial public offering (“IPO”) and search for an
initial business combination. No assurance can be given that the
offering discussed above will be completed on the terms described,
or at all, or that the net proceeds of the offering will be used as
indicated. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of Goldenstone
Acquisition Limited, including those set forth in the Risk Factors
section of Goldenstone Acquisition Limited’s registration statement
and preliminary prospectus for the IPO filed with the SEC. Copies
are available on the SEC's website, www.sec.gov. Goldenstone
Acquisition Limited. undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
Contact Information:
Eddie Ni Chairman & CEO Email: eddie@windfallusa.com Tel: +1
(330) 352-7788
Ray Chen CFO & Head of Investor Relationships Email:
abctop40@gmail.com Tel: +1 (917) 459-8498
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