Company: TACOW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001829126-25-006209
Chunk: 32

Company: Berto Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 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 we will be able to successfully effect an Initial Business Combination.

21

We
provide 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 we will seek shareholder approval of an Initial Business Combination or conduct
a tender offer will be made by us, solely in our 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 us 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 were 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 we seek shareholder approval of an Initial Business Combination, we will complete the Initial Business Combination only if
it is approved by an ordinary resolution under Cayman Islands law, which requires the affirmative vote of at least a majority of the
votes cast by the shareholders of the issued shares present in person or represented by proxy and entitled to vote on such matter at
a general meeting of our company.

Our Sponsor, Meteora, the
Initial Shareholders, officers and directors, have entered into a letter agreement with the Company, pursuant to which they agreed to
vote in favor of the Initial Business Combination and waive their redemption rights with respect to any Founder Shares they hold and
any Public Shares that our Sponsor, Sponsor’s affiliates, officers and directors may acquire during or after this offering in connection
with