Company: TACOW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001829126-25-006209
Chunk: 31

Company: Berto Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 in the Trust Account uninvested in cash or in an interest-bearing or non-interest-bearing
demand deposit account. Funds will remain in the Trust Account until the earlier of (i) the consummation of the Initial Business Combination
or (ii) the distribution of the Trust Account proceeds as described below.

Except with respect to interest earned on the funds
held in the Trust Account that may be released to us to pay our taxes, if any, none of the funds held in the Trust Account will be released
until the earlier of (i) the completion of the Initial Business Combination in connection with a general meeting called to approve the
Initial Business Combination or without a shareholder vote by means of a tender offer; (ii) the redemption of any Public Shares if we
were unable to complete the Initial Business Combination within the Completion Window, subject to applicable law or (y) if we extend
the Completion Window and such extension is conditioned upon depositing additional funds into the Trust Account, upon the end of a 30-day
cure period after the date any such funds were required to be deposited but were not so deposited or (iii) the redemption of Public Shares
properly submitted in connection with a shareholder vote to amend our articles not for the purpose of approving, or in conjunction with
the consummation of, an Initial Business Combination, (A) to modify the substance or timing of our obligation to allow redemption in
connection with the Initial Business Combination or to redeem 100% of Public Shares if we have not consummated an Initial Business Combination
within the Completion Window or (B) with respect to any other material provisions relating to the rights of holders of ordinary shares
or pre-Initial Business Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of our creditors,
if any, which could have priority over the claims of the Public Shareholders.

Initial Business Combination

Our management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of Sponsor Private Placement Warrants, although substantially all of the net proceeds of the Initial Public Offering are intended to be generally applied toward consummating an Initial Business Combination. The Initial Business Combination must occur with one or more businesses having an aggregate fair market value of at least 80% of the value of the Trust Account (excluding any deferred underwriters fees and taxes payable on the income earned on the Trust Account) at the time of the agreement to enter into the Initial Business Combination. However, we will only