Company: TACOW
Filing Date: 2025-03-21
Form Type: S-1
Source: 0001829126-25-001978
Chunk: 173

Company: Berto Acquisition Corp.
Filing Date: 2025-03-21
Form: S-1
Chunk 173
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 not able to independently determine the fair market value of our initial business
combination (including with the assistance of financial advisors), we will obtain an opinion from an independent investment banking firm
which is a member of FINRA or an independent valuation or appraisal firm that regularly provides fairness opinions solely with respect
to the satisfaction of such criteria. While we consider it likely that our board will be able to make such independent determination
of fair market value, it may be unable to do so if the board is less familiar or experienced with the target company’s business,
there is a significant amount of uncertainty as to the value of the company’s assets or prospects, including if such company is
at an early stage of development, operations or growth, or if the anticipated transaction involves a complex financial analysis or other
specialized skills and the board determines that outside expertise would be helpful or necessary in conducting such analysis. Additionally,
pursuant to Nasdaq rules, any initial business combination must be approved by a majority of our independent directors.

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We anticipate structuring our
initial business combination so that the post-transaction company in which our public shareholders own shares will own or acquire 100%
of the equity interests or assets of the target business or businesses. We may, however, structure our initial business combination such
that the post-transaction company owns or acquires less than 100% of such interests or assets of the target business in order to meet
certain objectives of the target management team or shareholders or for other reasons, but we will only complete such business combination
if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires
a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company
Act. Even if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our shareholders prior
to the business combination may collectively own a minority interest in the post-transaction company, depending on valuations ascribed
to the target and us in the business combination transaction. For example, we could pursue a transaction in which we issue a substantial
number of new shares in exchange for all of the outstanding capital stock, shares or other equity interests of a target. In this case,
we would acquire a 100% controlling interest in the target, however, as a result of the issuance of a substantial number of new shares,
our shareholders immediately