Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 5

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 of the Initial Public
      Offering and the sale of Sponsor Private Placement Warrants, although substantially all of the net proceeds of the Initial Public
      Offering are intended to be generally applied toward consummating an Initial Business Combination. The Initial Business Combination
      must occur with one or more businesses having an aggregate fair market value of at least 80% of the value of the Trust Account
      (excluding any deferred underwriters fees and taxes payable on the income earned on the Trust Account) at the time of the agreement
      to enter into the Initial Business Combination. However, the Company will only complete an Initial Business Combination if the
      post-transaction company owns or acquires 50% or more of the voting securities of the target or otherwise acquires a controlling
      interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act.
      Furthermore, there is no assurance that the Company will be able to successfully effect an Initial Business Combination.
       
      The
      Company provides Public Shareholders with the opportunity to redeem all or a portion of their Public Shares upon the completion
      of an Initial Business Combination either (i) in connection with a shareholders’ meeting called to approve the Initial Business
      Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of an Initial
      Business Combination or conduct a tender offer will be made by the Company, solely in its discretion, and will be based on a variety
      of factors such as the timing of the transaction and whether the terms of the transaction would require the Company to seek shareholder
      approval under applicable law or stock exchange listing requirement. The Public Shareholders will be entitled to redeem their Public
      Shares for a pro rata portion of the amount then held in the Trust Account calculated as of two business days prior to the consummation
      of the Initial Business Combination including interest earned on the funds held in the Trust Account (which interest shall be net
      of taxes paid or payable), divided by the number of then issued and outstanding Public Shares.
       
      The
      Public Shares will be recorded at redemption value and classified as temporary equity upon the completion of the Initial Public
      Offering in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)
      Topic 480, “Distinguishing Liabilities from Equity” (“ASC 480”). If the Company seeks shareholder approval
      of an Initial Business