Company: TACOW
Filing Date: 2025-04-15
Form Type: S-1/A
Source: 0001829126-25-002650
Chunk: 120

Company: Berto Acquisition Corp.
Filing Date: 2025-04-15
Form: S-1/A
Chunk 120
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 Act, we may, at our option, not permit holders of warrants who seek to
exercise their warrants to do so for cash and, instead, require them to do so on a cashless basis in accordance with Section 3(a)(9)
of the Securities Act; in the event we so elect, we will not be required to file or maintain in effect a registration statement or register
or qualify the shares underlying the warrants under applicable state securities laws, and in the event we do not so elect, we will use
our commercially reasonable efforts to register or qualify the shares underlying the warrants under applicable state securities laws
to the extent an exemption is not available.

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In no event will we be required
to net cash settle any warrant, or issue securities (other than upon a cashless exercise as described above) or other compensation in
exchange for the warrants in the event that we are unable to register or qualify the shares underlying the warrants under the Securities
Act or applicable state securities laws.

You may only be able to exercise your public warrants on a “cashless basis” under certain circumstances, and if you do so, you will receive fewer ordinary shares from such exercise than if you were to exercise such warrants for cash.

The warrant agreement provides
that in the following circumstances holders of warrants who seek to exercise their warrants will not be permitted to do for cash and
will, instead, be required to do so on a cashless basis in accordance with Section 3(a)(9) of the Securities Act: (i) if the ordinary
shares issuable upon exercise of the warrants are not registered under the Securities Act in accordance with the terms of the warrant
agreement; if we have so elected and the ordinary shares are at the time of any exercise of a warrant not listed on a national securities
exchange such that they satisfy the definition of “covered securities” under Section 18(b)(1) of the Securities Act;
and (iii) if we have so elected and we call the public warrants for redemption. If you exercise your public warrants on a cashless basis,
you would pay the warrant exercise price by surrendering the warrants for that number of ordinary shares equal to the quotient obtained
by dividing (x) the product of the number ordinary shares underlying the warrants, multiplied by the excess of the “fair market
value” of our ordinary shares (as defined in the next sentence) over the exercise price of the warrants by (y) the fair market
value. The “