Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 15

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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.50 per share within the first 12 months following the closing of an Initial
      Business Combination or $11.50 per share after the 12-month anniversary of the closing of the Initial Business Combination (the
      “Exercise Price”), beginning 30 days after the completion of the Company’s Initial Business Combination subject
      to adjustment as described herein (see Note 7).

    11

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

Note
      4 — Private Placement
       
      Simultaneously
      with the closing of the Initial Public Offering, the Company consummated the Private Placement of 3,500,000 Sponsor Private Placement
      Warrants to the Sponsor at a purchase price of $1.00 per Sponsor Private Placement Warrant, generating gross proceeds to the Company
      of $3.5 million.
       
      Each
      Sponsor Private Placement Warrant is identical to the Public Warrants, except that (i) the Sponsor Private Placement Warrants (including
      the underlying shares) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30
      days after the completion of the Company’s Initial Business Combination, (ii) they (including the underlying shares) will
      be entitled to registration rights, (iii) they will not be redeemable by the Company and (iv) they may be exercised by the holders
      on a cashless basis.
       
      Each
      Sponsor Private Placement Warrant will become exercisable 30 days after the completion of the Initial Business Combination and
      will expire after five years after completion of the Initial Business Combination or earlier upon liquidation. If the Initial Business
      Combination is not completed within the Completion Window, the proceeds from the sale of the Private Placement Warrants held in
      the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law).

Note
      5 — Related Party Transactions
       
      Founder
      Shares
       
      On
      November 11, 2024, the Sponsor and its affiliates purchased $23,957 for an aggregate of 6,887,500 ordinary shares and a consultant,
      Meteora Capital LLC (the “Consultant” or “Meteora”) paid $1,043 for an aggregate of 300,000 ordinary shares