Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 19

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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’s officers and directors may, but are not obligated to, loan the Company funds as may be required
      (“Working Capital Loans”). If the Company completes its Initial Business Combination, the Company would repay the Working
      Capital Loans. In the event that the Initial Business Combination does not close, the Company may use a portion of proceeds held
      outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the
      Working Capital Loans. If the Sponsor makes any Working Capital Loans, up to $1.5 million of such loans may be convertible into
      warrants of the post business combination entity at a price of $1.00 per warrant at the option of the lender. The warrants and
      their underlying securities would be identical to the Sponsor Private Placement Warrants. As of March 31, 2025 and December 31,
      2024, the Company had no borrowings under the Working Capital Loans.

Note
      6 — Commitments and Contingencies
       
      Underwriting
      Agreement
       
      The
      Company 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) a deferred underwriting fee of approximately $11.7 million (the “Deferred Fee”).
      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,