GlobeNewswire Inc. · Mar 21, 2022
Goldenstone Acquisition Limited Announces Closing of $57.5 Million Initial Public Offering, Including Full Exercise of the Underwriters’ Over-Allotment Option
Aurora, IL, March 21, 2022 (GLOBE NEWSWIRE) -- Goldenstone Acquisition Limited (the “Company”), a newly organized blank check company, announced today that it closed its initial public offering of 5,750,000 units, which includes the full exercise of the underwriters’ over-allotment option. The units were sold at a price of $10.00 per unit, resulting in total gross proceeds of $57,500,000. Each unit consists 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 began trading on the Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “GDSTU” on March 17, 2022. After the securities comprising the units begin separate trading, the common stock, warrants, and rights are expected to be listed on Nasdaq under the ticker symbols “GDST”, “GDSTW” and “GDSTR”, respectively.
