SEC Filing Document

Company: Berto Acquisition Corp. II
Ticker: GUAC
CIK: 2081515
Filing Type: DRS
Document Type: DRS
Date Filed: 2026-02-20
Accession Number: 0001829126-26-001498
Exchange: 
SIC Code: 6770
SIC Description: Blank Checks
URL: https://www.sec.gov/Archives/edgar/data/2081515/000182912626001498/filename1.htm

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to substantial compensation, and our officers are not obligated to contribute any specific number of hours per week to our affairs. Our independent directors may have fiduciary duties to other entities. If our officers’ and directors’ other business affairs require them to devote substantial amounts of time to such affairs in excess of their current commitment levels, it could limit their ability to devote time to our affairs which may have a negative impact on our ability to complete our initial business combination. For a complete discussion of our officers’ and directors’ other business affairs, please see “Management — Officers, Directors and Director Nominees.” Our officers and directors presently have, and any of them in the future may have additional, fiduciary or contractual obligations to other entities, including blank check companies, and, accordingly, may have conflicts of interest in determining to which entity a particular business opportunity should be presented.

Following the completion of this offering and until we consummate our initial business combination, we intend to engage in the business of identifying and combining with one or more businesses. Our sponsor, its managing members, and our officers and directors are, and in the future may become, affiliated with such entities (such as operating companies or investment vehicles) that are engaged in a similar business. We do not have employment contracts with our officers and directors that will limit their ability to work at other businesses. Our officers and directors presently and any of them in the future may have, additional fiduciary or contractual obligations to other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entities. Accordingly, they may have conflicts of interest in determining to which entity a particular business opportunity should be presented. These conflicts may not be resolved in our favor and a potential target business may be presented to another entity prior to its presentation to us, subject to their fiduciary duties under Cayman Islands law. Our articles provides that, to the fullest extent permitted by applicable law: (i) no individual serving as a director or an officer or sponsor shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of business as us, and (ii) we renounce any interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction or matter which (a) may be a corporate opportunity for any director or officer, on the one hand, and us, on the other or (b) the presentation of which would breach an existing legal obligation of a member of director, officer or sponsor to any other entity. The purpose for the surrender of corporate opportunities is to allow officers, directors or other representatives with multiple business affiliations to continue to serve as an officer of our company or on our board of directors. Our officers and directors may from time to time be presented with opportunities that could benefit both another business affiliation and us. In the absence of the “corporate opportunity” waiver in our articles, certain candidates would not be able to serve as an officer or director. We believe we substantially benefit from having representatives who bring significant, relevant and valuable experience to our management, and, as a result, the inclusion of the “corporate opportunity” waiver in our articles provides us with greater flexibility to attract and retain the officers and directors that we feel are the best candidates. We do not believe, however, that the fiduciary duties or contractual obligations of our officers or directors will materially affect our ability to complete our initial business.

Further, certain members of our management team may have similar responsibilities in, or serve as directors of, other SPACs. Mr. You is also serving as the Chief Executive Officer and Executive Chairman of First Berto and the Chief Executive Officer, Chief Financial Officer and Chairman of dMY Squared. In addition, our sponsor and our officers and directors may sponsor or form other SPACs with acquisition objectives that are similar to ours or may pursue other business or investment ventures during the period in which we are seeking an initial business combination. As a result, our sponsor, officers and directors could have conflicts of interest in determining whether to present business combination opportunities to us or to any other special purpose acquisition company with which they may become involved. Any such companies,

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businesses or investments may present additional conflicts of interest in pursuing an initial business combination target. With respect to First Berto, although on October 29, 2025, it announced that it had entered into a non-binding letter of intent for a business combination with OnMed, a business formed to solve America’s healthcare access crisis, it is not a guarantee that a definitive business combination agreement will be entered into or that such proposed business combination will consummate. Additionally, with respect to dMY Squared, although on September 9, 2025, it announced that it had entered into a business combination agreement with Horizon, a developer of advanced software development tools for quantum computers, it is not a guarantee that such proposed business combination will consummate. The fiduciary duties or obligations of our officer and directors owed to First Berto and dMy Squared may materially affect our ability to complete our initial business combination. However, we believe that certain factors may mitigate the impact of such conflicts, including: (1) the type of transaction we would target would be of a nature different than what First Berto or dMY Squared would target. For instance, although we, First Berto and dMY Squared may pursue an initial business combination target in any industry or geographic region, we plan to focus the target search of our company in [●], while First Berto intends to focus its search on companies within the AI as well as the rapidly growing wellness, longevity and aesthetics areas and dMY Squared intends to focus its search on companies within the professional service industry that provide accounting, legal, financial, advisory or other services to public companies or private companies that are in the process of becoming public companies; (2) even if we, First Berto and dMY Squared broaden the scope of search and choose to pursue targets in any industry or geographic region, our management team has significant experience in identifying and executing multiple acquisition opportunities simultaneously, and we believe there are multiple potential opportunities across all industries and geographic regions; and (3) we have different timelines in completing a business combination. First Berto currently has until May 1, 2027 to complete a business combination. dMY Squared currently has until February 28, 2026 (which may be extended monthly for an additional one month each time to up to June 29, 2026, by resolution of the board of directors of dMY Squared) to complete a business combination. While we expect that First Berto and dMY Squared will both have priority over us with respect to acquisition opportunities, due to shorter completion windows, a target that we pursue may not be a suitable target for First Berto or dMY Squared because it may not be able to combine with either First Berto or dMY Squared before its deadline. With respect to companies other than First Berto and dMY Squared, we do not believe the fiduciary duties or contractual obligations of our officers or directors owed to such entities will materially affect our ability to complete an initial business combination, because such entities are not themselves in the business of engaging in business combinations. For a complete discussion of our officers’ and directors’ business affiliations and the potential conflicts of interest that you should be aware of, please see “Management — Officers, Directors and Director Nominees,” “Management — Conflicts of Interest” and “Certain Relationships and Related Party Transactions.”

Our officers, directors, security-holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests.

We have not adopted a policy that expressly prohibits our directors, officers, security-holders or affiliates from having a direct or indirect pecuniary or financial interest in any investment to be acquired or disposed of by us or in any transaction to which we are a party or have an interest. In fact, we may enter into a business combination with a target business that is affiliated with our sponsor, our directors or officers. Nor do we have a policy that expressly prohibits any such persons from engaging for their own account in business activities of the types conducted by us. Accordingly, such persons or entities may have a conflict between their interests and ours. Any such companies, businesses or investments may present additional conflicts of interest in pursuing an initial business combination target.