Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 52

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 2
Chunk 52
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 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,
      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.

Critical
      Accounting Estimates

The
      preparation of the financial statements and related disclosures in conformity with accounting principles generally accepted in
      the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and
      liabilities, disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements, and the
      reported amounts of income and expenses during the period reported. Actual results could materially differ from those estimates.
      We have identified the following critical accounting policies:

Deferred
      Offering Costs Associated with the Initial Public Offering

We
      comply with the requirements of the ASC 340-10-S99 — “Other Assets and Deferred Costs” — and SEC Staff
      Accounting Bulletin Topic 5A — “Expenses of Offering.” Deferred offering costs consist principally of professional
      and registration fees that were related to the Initial Public Offering. Deferred offering costs associated with warrants will be
      charged to shareholders’ deficit upon the completion of the Initial Public Offering. Deferred offering costs associated with
      the Public Shares will be charged against the carrying value of ordinary shares subject to possible redemption upon the completion
      of the Initial Public Offering.

23

Warrant
      Instruments

We
      will account for all of the Public Warrants and Private Placement Warrants in accordance with the guidance contained in FASB ASC
      Topic 815, “Derivatives and Hedging” (“ASC 815”). Accordingly, we evaluated and will classify the warrant