Company: TACOW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001829126-25-006209
Chunk: 37

Company: Berto Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 parties cannot access the funds held in the Trust Account.

24

Underwriting Agreement

We granted the underwriters a 45-day option to purchase up to 3,915,000 additional Units to cover over-allotments at the Initial Public Offering price, less the underwriting discounts and commissions. On May 1, 2025, the underwriters fully exercised their over-allotment option.

The underwriters were entitled to (1) an upfront
underwriting fee of an aggregate amount of approximately $1.5 million, paid upon the closing of the Initial Public Offering, (2) an aggregate
of 3,750,000 Underwriter Private Placement Warrants issued upon the closing of the Initial Public Offering, and (3) the Deferred Fee
of approximately $11.7 million. The Deferred Fee will become payable to the underwriters from the amounts held in the Trust Account solely
in the event that the Company completes an Initial Business Combination, subject to the terms of the underwriting agreement and will
be based on the amount of funds remaining in the Trust Account after shareholder redemptions of Public Shares in connection with the
consummation of an Initial Business Combination, less funds sourced by Initial Shareholders, or any cash remaining in the Trust Account
pursuant to structured agreements such as forward purchase agreements, non-redemption agreements, any agreements or arrangements alike,
or any other incentivization provided to the shareholders to not to redeem.

The Underwriter Private Placement Warrants are identical to the Public Warrants and Sponsor Private Placement Warrants, except that the Underwriter Private Placement Warrants held by the underwriters or their designees will not be exercisable more than five years after the commencement of sales in the Initial Public Offering.

CFO Services Agreement with Meteora

On June 13, 2025, in connection with the
appointment of Vikas Mittal as our Chief Financial Officer, we entered into the CFO Services Agreement with Meteora, pursuant to which,
among other things, we agreed to pay a quarterly fee of $37,500 to Meteora as consideration for Meteora making Mr. Mittal available to
serve as our Chief Financial Officer starting at the beginning of the next quarter.

Critical Accounting Estimates

The preparation of the unaudited condensed financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the