Goldenstone Acquisition Ltd. 8-K

What Happened

• Goldenstone Acquisition Ltd. (GDST) filed an 8-K on March 23, 2026 reporting results of a Special Meeting held March 17, 2026 (record date Feb 26, 2026). Stockholders approved amendments that extend the company’s deadline to complete a business combination, remove a restriction on deals involving entities in the People’s Republic of China, and change the company’s name to “Chi Special Acquisition Company.” The company filed a Certificate of Amendment reflecting those changes on March 23, 2026.

Key Details

• Quorum/votes: 1,441,398 shares represented (62.96% of 2,289,246 outstanding at the record date).
• Extension of corporate charter deadline: approved to extend the date to consummate a business combination to December 21, 2026 (Proposal 1: For 1,432,998; Against 8,400).
• Trust agreement amendment: approved to extend the time to complete an initial business combination under the trust agreement to December 31, 2026, conditioned on depositing $1,500 into the trust for each month extended (Proposal 2: For 1,432,998; Against 8,400).
• Other approvals: removed the charter restriction on transactions involving PRC-based businesses (unanimous vote) and approved changing the company name to “Chi Special Acquisition Company” (unanimous vote).
• Post-redemption public float: following redemptions, the company reports 20,156 shares of public common stock outstanding.

Why It Matters

• The approved extensions give the SPAC more time to find and close a merger or acquisition, which directly affects the timeline for any proposed deal or liquidation.
• The trust amendment’s monthly deposit requirement ($1,500 per month) affects the cash held in the SPAC’s trust and the economics of further extensions.
• Removing the PRC-target restriction materially broadens the set of potential acquisition targets.
• The very small number of public shares remaining after redemptions (20,156) is important for investors: it can affect voting dynamics, liquidity of public shares, and the structure of any transaction or redemption outcomes.