Company: TACOW
Filing Date: 2025-04-09
Form Type: S-1/A
Source: 0001829126-25-002484
Chunk: 285

Company: Berto Acquisition Corp.
Filing Date: 2025-04-09
Form: S-1/A
Chunk 285
---
 of a cashless exercise of warrants, including when a U.S. Holder’s holding period
would commence with respect to the ordinary share received pursuant to the cashless exercise of warrants, there can be no assurance regarding
which, if any, of the alternative tax consequences and holding periods described above would be adopted by the IRS or a court of law.
Accordingly, U.S. Holders should consult their own tax advisors regarding the tax consequences of a cashless exercise of warrants.

Subject to the PFIC rules described
below, if we redeem a U.S. Holder’s warrants for cash pursuant to the redemption provisions described in the section of this prospectus
entitled “Description of Securities — Warrants — Public Shareholders’ Warrants” or if we purchase
a U.S. Holder’s warrants in an open market transaction, such redemption or purchase generally will be treated as a taxable disposition
to the U.S. Holder, taxed as described above under “— Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Ordinary Shares and Warrants.”

Possible Constructive Distributions

The terms of each warrant provide
for an adjustment to the number of ordinary shares for which the warrant may be exercised or to the exercise price of the warrant in
certain events, as discussed in the section of this prospectus entitled “Description of Securities — Warrants — Public Shareholders’ Warrants.” An adjustment which has the effect of preventing dilution generally is not taxable. The
U.S. Holders of the warrants would, however, be treated as receiving a constructive distribution from us if, for example, the adjustment
increases such U.S. Holders’ proportionate interest in our assets or earnings and profits (for example, through an increase in
the number of ordinary shares that would be obtained upon exercise or through a decrease in the exercise price of the warrants), which
adjustment may be made as a result of a distribution of cash or other property to the holders of our ordinary shares. Such constructive
distribution to a U.S. Holder of warrants would be treated for United States federal income tax purposes as if such U.S. Holder had received
a cash distribution from us generally equal to the fair market value of such increased interest (taxed as described above under “—
Taxation of Distributions”).

<div align='center'>187</div>

Passive Foreign Investment Company Rules

A foreign corporation (that is,
non-U.S. entity treated as a corporation for U.S. federal income tax