Company: TACOW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001829126-25-009131
Chunk: 46

Company: Berto Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 46
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 anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.

The Sponsor is Berto Acquisition Sponsor LLC, a Cayman Islands limited liability company.

Financing Activities

Our registration statement for the Initial Public Offering was declared effective on April 29, 2025. On May 1, 2025, we consummated our Initial Public Offering of 30,015,000 Units, including the issuance of 3,915,000 Units as a result of the underwriters’ full exercise of their over-allotment option, at $10.00 per Unit, generating gross proceeds of $300.15 million, and incurring offering costs of approximately $17.8 million, of which approximately $11.7 million was for deferred underwriting commissions.

Simultaneously with the closing of the Initial Public Offering, we consummated the Private Placement of 3,500,000 Sponsor Private Placement Warrants to our Sponsor at a purchase price of $1.00 per Sponsor Private Placement Warrant, generating gross proceeds to the Company of $3.5 million.

Additionally, simultaneously with the closing of the Initial Public Offering,
we issued an aggregate of 3,750,000 Underwriter Private Placement Warrants to designees of the Representatives.

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The Trust Account

Upon the closing of the Initial Public Offering and the Private Placement, we deposited $300.15 million ($10.00 per share) of net proceeds, including the net proceeds of the Initial Public Offering and certain of the proceeds of the Private Placement in a Trust Account located in the United States with Continental Stock Transfer & Trust Company acting as trustee, and would be held only (i) uninvested as cash, (ii) in an interest bearing or non-interest bearing demand deposit account at a U.S. chartered commercial bank with consolidated assets of $100 billion or more selected by the trustee that is reasonably satisfactory to the Company, or (iii) invested only in U.S. government securities, within the meaning of Section 2(a)(16) of the Investment Company Act, with a maturity of one hundred eighty-five (185) days or less, or in money market funds that meet certain conditions under Rule 2a-7 under the Investment Company Act and that invest only in direct U.S. government treasury obligations. To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer the Company holds investments in the Trust Account, it may