Goldenstone Acquisition Limited (GDSTU) Prices $50M IPO

Goldenstone Acquisition Limited announced the pricing of its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GDSTU” Thursday, March 17.

The new SPAC intends to acquire a growth-oriented business with an enterprise value between $150 million and $500 million although, they 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). Goldenstone is led by CEO and President Eddie Ni, CFO Ray Chen, and COO Yongsheng Liu.

Total SPAC deal count for 2022 year-to-date is now 52. This offering is expected to close on Monday, March 21.

Maxim Group LLC is acting as the sole book-running manager of the offering. Loeb & Loeb LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Friedman LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.