Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 29

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 Public Offering, we consummated the private placement (“Private Placement”) of 3,500,000
      warrants (the “Sponsor Private Placement Warrants”) to our Sponsor at a purchase price of $1.00 per Sponsor Private
      Placement Warrant, generating gross proceeds to the Company of $3.5 million.

Additionally,
      simultaneously with the closing of the Initial Public Offering, we issued an aggregate of 3,750,000 warrants (the “Underwriter
      Private Placement Warrants”, and together with the Sponsor Private Placement Warrants, the “Private Placement Warrants”)
      to designees of the Representatives.

19

The
      Trust Account

Upon
      the closing of the Initial Public Offering and the Private Placement, we deposited $300.15 million ($10.00 per share) of net proceeds,
      including the net proceeds of the Initial Public Offering and certain of the proceeds of the Private Placement in a trust account
      (“Trust Account”) located in the United States with Continental Stock Transfer & Trust Company acting as trustee,
      and would be held only (i) uninvested as cash, (ii) in an interest bearing or non-interest bearing demand deposit account at a
      U.S. chartered commercial bank with consolidated assets of $100 billion or more selected by the trustee that is reasonably satisfactory
      to the Company, or (iii) invested only in U.S. government securities, within the meaning of Section 2(a)(16) of the Investment
      Company Act of 1940 (the “Investment Company Act”), with a maturity of one hundred eighty-five (185) days or less,
      or in money market funds that meet certain conditions under Rule 2a-7 under the Investment Company Act and that invest only
      in direct U.S. government treasury obligations. To mitigate the risk that the Company might be deemed to be an investment company
      for purposes of the Investment Company Act, which risk increases the longer the Company holds investments in the Trust Account,
      it may, at any time, instruct the trustee to liquidate the investments held in the Trust Account and instead to hold the funds
      in the Trust Account uninvested in cash or in an interest-bearing or non-interest-bearing demand deposit account. Funds will remain
      in the Trust Account until the earlier of (i) the consummation of the Initial Business Combination or (ii) the distribution of
      the Trust Account proceeds as described below.

Except
      with respect