Company: TACOW
Filing Date: 2025-03-21
Form Type: S-1
Source: 0001829126-25-001978
Chunk: 76

Company: Berto Acquisition Corp.
Filing Date: 2025-03-21
Form: S-1
Chunk 76
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 are not subject to.          |

In order not to be regulated
as an investment company under the Investment Company Act, unless it can qualify for an exclusion, a company must ensure that it is engaged
primarily in a business other than investing, reinvesting or trading of securities and that its activities do not include investing,
reinvesting, owning, holding or trading “investment securities” constituting more than 40% of its assets (exclusive of U.S.
government securities and cash items) on an unconsolidated basis. Our business will be to identify and complete a business combination
and thereafter to operate the post-transaction business or assets for the long term. We do not intend to spend a considerable amount
of time actively managing the assets in the trust account for the primary purpose of achieving investment returns. We do not plan to
buy businesses or assets with a view to resale or profit from their resale. We do not plan to buy unrelated businesses or assets or to
be a passive investor.

We do not believe that our
anticipated principal activities will subject us to the Investment Company Act. To this end, the proceeds held in the trust account will
only be held as cash or invested in United States “government securities” within the meaning of Section 2 (a) (16) of
the Investment Company Act having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7
promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations; the holding of these assets
in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination and may at any time
be held as cash or cash items, including in demand deposit accounts at a bank. Pursuant to the investment management trust agreement,
the trustee will not be permitted to invest in other securities or assets. By restricting the investment of the proceeds in this manner,
and by focusing our directors’ and officers’ time toward, and operating our business for the purpose of, acquiring and growing
businesses for the long term (rather than buying and selling businesses in the manner of a merchant bank or private equity fund or investing
in assets for the purpose of achieving

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investment returns on such assets), we intend to
avoid being deemed an “investment company” within the meaning of the Investment Company Act. The offering is not intended
for persons who are seeking a return on investments in government securities or