SEC Filing Document

Company: Berto Acquisition Corp. II
Ticker: GUAC
CIK: 2081515
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-05-12
Accession Number: 0001829126-26-005001
Exchange: 
SIC Code: 6770
SIC Description: Blank Checks
URL: https://www.sec.gov/Archives/edgar/data/2081515/000182912626005001/bertoacquisition2_s1a.htm

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the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s unaudited condensed financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Table of Contents BERTO ACQUISITION CORP. NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS MARCH 31, 2026 Use of Estimates

The preparation of the unaudited
condensed financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited
condensed financial statements and the reported amounts of expenses during the reporting period.

Making estimates requires
management to exercise significant judgement. It is at least reasonably possible that the estimate of the effect of a condition, situation
or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating
its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ
significantly from those estimates.

Deferred Offering
Costs Associated with the Proposed Public Offering

The Company complies with
the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A — “Expenses of Offering.” Deferred
offering costs consist principally of professional and registration fees that are related to the Proposed Public Offering. FASB ASC 470-20,
“Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into
its equity and debt components. The Company will apply this guidance to allocate Proposed Public Offering proceeds from the Units between
ordinary shares and warrants. Should the Proposed Public Offering prove to be unsuccessful, these deferred costs, as well as additional
expenses to be incurred, will be charged to operations.

Financial Instruments

The fair value of the Company’s
assets and liabilities, which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurement,” approximates
the carrying amounts represented in the balance sheet, primarily due to their short-term nature.

Fair Value Measurements

Fair value is defined as
the price that would be received for sale of an asset or paid for transfer of a liability in an orderly transaction between market participants
at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements)
and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

●	Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments
in active markets;

●	Level 2, defined as inputs other than quoted prices in active markets that are either directly
or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar
instruments in markets that are not active; and

●	Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring
an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs
or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized
within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety
in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

Table of Contents

BERTO ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
MARCH 31, 2026

Derivative Financial
Instruments

The Company evaluates its
financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance
with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities,
the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with
changes in the fair value reported in the statement of operations. The classification of derivative instruments, including whether such
instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities
are classified in the balance sheet as current or non-current based on whether or not net cash settlement or conversion of the instrument
could be required within 12 months of the balance sheet date.

Warrant Instruments

The Company will account
for the public and private warrants to be issued in connection with the Proposed Public Offering and the private placement in accordance
with the guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. There are no public or private warrants currently
outstanding as of March 31, 2026 or December 31, 2025.

Stock Compensation

The Company’s policy
is to account for stock-based compensation expense in accordance with FASB ASC Topic 718, “Compensation-Stock Compensation”
(“ASC 718”). Under ASC 718, stock-based compensation associated with equity awards is measured at fair value upon the grant
date and recognized over the requisite service period. To the extent a stock-based award is subject to a performance condition, the amount
of expense recorded in a given period, if any, reflects an assessment of the probability of achieving such performance condition, with
compensation recognized once the event is deemed probable to occur. Forfeitures are recognized as incurred.

Stock-based compensation
also includes ordinary shares issued to nonemployee service providers in exchange for advisory services. The fair value of such shares
is recognized at the grant date, with amounts attributable to future services recorded as prepaid assets and amortized to expense over
the period the related services are expected to be provided.

Taxes

The Company accounts for
income taxes under ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting
and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement
and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates
applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when
necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC Topic 740 prescribes
a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or
expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained
upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major
tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As
of December 31, 2025, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is
currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

The Company is considered
to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income
taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero
for the period presented.

Table of Contents

BERTO ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
MARCH 31, 2026

Net Loss per Ordinary
Share

Net loss per ordinary share
is computed by dividing net loss by the weighted average number of ordinary shares issued and outstanding during the period, excluding
ordinary shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 937,500 Founder Shares
(as defined in Note 5) that are subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters
(see Note 5). As of March 31, 2026, the Company did not have any dilutive securities and other contracts that could, potentially,
be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted loss per share is
the same as basic loss per share for the period presented.

Recent Accounting
Standards

Management does not believe
that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the
Company’s unaudited condensed financial statements.