Company: TACOW
Filing Date: 2025-04-18
Form Type: S-1/A
Source: 0001829126-25-002771
Chunk: 283

Company: Berto Acquisition Corp.
Filing Date: 2025-04-18
Form: S-1/A
Chunk 283
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 shares, then the U.S. Holder will be treated for United States federal income tax purposes as described
under “— Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Ordinary Shares and Warrants”
above. If the redemption does not qualify as a sale of ordinary shares, then the U.S. Holder will be treated as receiving a corporate
distribution having the United States federal income tax consequences described above under “— Taxation of Distributions.”
Whether a redemption qualifies for sale treatment will depend largely on the total number of our shares treated as held by the U.S. Holder
(including any shares constructively owned by the U.S. Holder described in the following paragraph, including as a result of owning warrants)
relative to all of our shares outstanding both before and after such redemption. A redemption of ordinary shares generally will be treated
as a sale of the ordinary shares (rather than as a corporate distribution) if such redemption (i) is “substantially disproportionate”
with respect to the U.S. Holder, (ii) results in a “complete termination” of the U.S. Holder’s interest in us or (iii)
is “not essentially equivalent to a dividend” with respect to the U.S. Holder. These tests are explained more fully below.

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In determining whether any of
the foregoing tests are satisfied, a U.S. Holder must take into account not only any of our shares that are actually owned by the U.S.
Holder, but also any of our shares that are treated for United States federal income tax purposes as constructively owned by such holder.
In addition to owning our shares directly, a U.S. Holder may be treated for United States federal income tax purposes as constructively
owning our shares that are owned by certain individuals related to such U.S. Holder and certain entities in which the U.S. Holder has
an interest or that have an interest in such U.S. Holder, as well as any of our shares which the U.S. Holder has a right to acquire by
exercise of an option, which generally would include ordinary shares which could be acquired by such U.S. Holder pursuant to the exercise
of warrants. A redemption of ordinary shares generally will be “substantially disproportionate” with respect to a U.S. Holder
if the percentage of our issued and outstanding voting shares actually and constructively owned by the U.S. Holder immediately following
the redemption of ordinary shares constitutes, among other requirements, less than 80