Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 20

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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      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.
       
      Consulting
      Agreement with Meteora
       
      On
      November 11, 2024, the Company entered into a consulting agreement with Meteora, pursuant to which Meteora provided consulting,
      advisory and related services to the Company with respect to general special purpose acquisition company structuring and capital
      markets matters.
       
      In
      consideration of the services provided, the Company agreed to sell 300,000 Founder Shares to Meteora for an aggregate purchase
      price of $1,043. The Company estimated the fair value of such shares of $150,000 based on Monte Carlo simulation model and recorded
      as stock-based compensation expenses.

    14

BERTO ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
MARCH 31, 2025

Note
      7 — Shareholders’ Deficit
       
      Preference
      Shares
       
      The
      Company is authorized to issue 5,000,000 preference shares with a par value of $0.0001 per share with such designations, voting
      and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of March 31,
      2025 and December 31, 2024, there were no preference shares issued or outstanding.
       
      Ordinary
      Shares
       
      The
      Company is authorized to issue 550,000,000 ordinary shares with a par value of $0.0001 per share.
       
      Ordinary
      shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified
      in our articles, or as required by applicable provisions of the Companies Act or applicable stock exchange rules, the affirmative
      vote of a majority of our ordinary shares that are represented in person or by proxy and are voted is required to approve any such
      matter voted on by our shareholders. Approval of certain actions will require a special resolution under Cay