Company: TACOW
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001829126-25-004454
Chunk: 48

Company: Berto Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Part I, Item 2
Chunk 48
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 funds therefor, redeem the Public Shares, at a per-share
      price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned held in the
      Trust Account (which interest shall be net of taxes and up to $100,000 of interest to pay dissolution expenses), divided by the
      number of then outstanding Public Shares, which redemption will completely extinguish the holders’ rights as shareholders
      (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as
      reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors,
      liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and
      the requirements of other applicable law. The Initial Shareholders have entered into agreements with our company pursuant to which
      they have agreed to waive their rights to liquidating distributions from the Trust Account with respect to any founder shares held
      by them if we fail to complete the Initial Business Combination within the Completion Window. However, if the Initial Shareholders
      acquire Public Shares in or after the Initial Public Offering, they will be entitled to liquidating distributions from the Trust
      Account with respect to such shares if we fail to complete the Initial Business Combination within the prescribed time period.

Liquidity
      and Capital Resources

As
      of March 31, 2025, we had approximately $11,000 in cash and a working capital deficit of approximately $1.1 million.

Our
      liquidity needs through March 31, 2025 were satisfied through the payment of $25,000 from our Sponsor, its affiliates, and
      the Consultant to purchase founder shares, and a loan under the Note in the amount of approximately $189,000. Following the closing
      of the Initial Public Offering, our liquidity was derived from the net proceeds from the consummation of the Initial Public Offering
      and the Private Placement held outside of the Trust Account. We fully repaid the Note balance on May 1, 2025, and the Note
      was no longer available after closing.

In
      addition, in order to finance transaction costs in connection with our Initial Business Combination, our Sponsor or an affiliate
      of the Sponsor, or our officers and directors may, but are not obligated to, provide the Working Capital Loans to us. If we complete
      our Initial Business Combination