Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 50

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 2
Chunk 50
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5 is related to our formation and the preparation
      for our Initial Public Offering. We will not generate any operating revenues until after the completion of our initial Business
      Combination. Following the closing of our Initial Public Offering, we generate non-operating income in the form of investment income
      from the Trust Account. We will continue to incur increased expenses as a result of being a public company (for legal, financial
      reporting, accounting and auditing compliance), as well as for due diligence expenses. Additionally, we recognize non-cash gains
      and losses within other income (expense) related to changes in recurring fair value measurement of our derivative liabilities at
      each reporting period.

For
      the three months ended March 31, 2025, we had net loss of approximately $18,000, which consisted solely of general and administrative
      expenses.

Contractual
      Obligations

Registration
      Rights

The
      holders of the (i) Founder Shares, (ii) Sponsor Private Placement Warrants and the ordinary shares underlying such warrants, (iii)
      Underwriter Private Placement Warrants and the ordinary shares underlying such warrants, and (iv) warrants that may be issued upon
      conversion of Working Capital Loans will have registration rights pursuant to a registration rights agreement dated April 29,
      2025. The holders of Founder Shares, Sponsor Private Placement Warrants, and Working Capital Warrants are entitled to make up to
      three demands, excluding short form demands, that the Company register such securities. In addition, the holders of founder shares,
      Sponsor Private Placement Warrants, and Working Capital Warrants have certain “piggy-back” registration rights with
      respect to registration statements filed subsequent to our completion of the Initial Business Combination. The Underwriter Private
      Placement Warrants (including the underlying shares) will be entitled to resale registration rights including one demand and unlimited
      “piggy-back” rights for periods of five and seven years, respectively, from the commencement of sales in the Initial
      Public Offering, in compliance with FINRA Rule 5510(g)(8). We will bear the expenses incurred in connection with the filing
      of any such registration statements.

Administrative
      Services and Indemnification Agreement

Commencing
      on May 1, 2025, we agreed to reimburse the Sponsor or an affiliate thereof in an amount equal to $15,000 per month for office
      space, utilities and secretarial and administrative support. Upon completion of