Company: TACOW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001829126-25-009131
Chunk: 21

Company: Berto Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 $1.5 million of such loans may be convertible into warrants of the post business combination entity at a price of $1.00 per warrant at the option of the lender. The warrants and their underlying securities would be identical to the Sponsor Private Placement Warrants. As of September 30, 2025 and December 31, 2024, the Company had no borrowings under the Working Capital Loans.

Consulting Agreement with Meteora

On November 11, 2024, the Company entered into a consulting agreement with Meteora, pursuant to which Meteora provided consulting, advisory and related services to the Company with respect to general special purpose acquisition company structuring and capital markets matters.

In consideration of the services provided, the Company agreed to sell 300,000 Founder Shares to Meteora for an aggregate purchase price of $1,043. The Company estimated the fair value of such shares of $150,000 based on Monte Carlo simulation model and recorded as stock-based compensation expense.

CFO Services Agreement with Meteora

On June 13, 2025, in connection with the
appointment of Vikas Mittal as Chief Financial Officer of the Company, the Company entered into a Chief Financial Officer services
agreement with Meteora (the “CFO Services Agreement”), pursuant to which, among other things, the Company agreed to pay
a quarterly fee of $37,500 to Meteora as consideration for Meteora making Mr. Mittal available to serve as Chief Financial Officer
of the Company starting in July 2025. The Company recorded $37,500 in general and administrative expenses for the three and nine
months ended September 30, 2025 and has outstanding balance as of September 30, 2025 in connection with such fees in
accrued expenses - related parties in the accompanying unaudited condensed statements of operations and balance sheet.

    16

BERTO ACQUISITION CORP. NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS SEPTEMBER 30, 2025

Note 6 — Commitments and Contingencies

Registration Rights

The holders of the (i) Founder Shares, (ii) Sponsor Private Placement Warrants and the ordinary shares underlying such warrants, (iii) Underwriter Private Placement Warrants and the ordinary shares underlying such warrants, and (iv) warrants that may be issued upon conversion of Working Capital Loans (as defined below) have registration rights pursuant to a registration rights agreement dated