Company: TACOW
Filing Date: 2025-03-21
Form Type: S-1
Source: 0001829126-25-001978
Chunk: 278

Company: Berto Acquisition Corp.
Filing Date: 2025-03-21
Form: S-1
Chunk 278
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IC rules discussed
below, in the event that a U.S. Holder’s ordinary shares are redeemed pursuant to the redemption provisions described in the section
of this prospectus entitled “Description of Securities — Ordinary Shares” or if we purchase a U.S. Holder’s
ordinary shares in an open market transaction (for the remainder of this discussion, references to a “redemption” shall include
such an open market purchase of public shares by us), the treatment of the transaction for United States federal income tax purposes
will depend on whether the redemption qualifies as a sale of the ordinary shares under Section 302 of the Code. If the redemption
qualifies as a sale of ordinary 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