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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completion of our initial business combination. We expect to generate non-operating income in the form of interest income on cash and cash equivalents after this offering. After this offering, we expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. We expect our expenses to increase substantially after the closing of this offering. Liquidity and Capital Resources Our liquidity needs have been satisfied prior to the completion of this offering through a capital contribution from our sponsor and its affiliates, Oanh Truong and a consultant, Meteora Capital LLC (the “Consultant” or “Meteora”) of $25,000 in exchange for the issuance of 7,187,500 founder shares, and up to $300,000 in loans available from our sponsor pursuant to a promissory note. As of December 31, 2025, we had approximately $16,000 of borrowings under the Note.

We estimate that the net proceeds
from the sale of the units in this offering of $250,000,000 (or $287,500,000 if the underwriters’ over-allotment option is exercised
in full), the sale of the private placement warrants for an aggregate purchase price of $3,500,000, after deducting offering expenses
of approximately $[●] and the underwriting commissions, will be $[●] (or $[●] if the underwriters’ over-allotment
option is exercised in full). Such purchase of the private placement warrants will be funded by our sponsor. Of this amount, $250,000,000
(or $287,500,000 if the underwriters’ over-allotment option is exercised in full) will be held in the trust account. The proceeds
held in the trust account will initially be invested only in U.S. government securities with a maturity of 185 days or less or in money
market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government
treasury obligations. The remaining approximately $[●] will not be held in the trust account. In the event that our offering expenses
exceed our estimate of $[●], we may fund such excess with funds not to be held in the trust account. In such case, the amount of
funds we intend to be held outside the trust account would decrease by a corresponding amount. Conversely, in the event that the offering
expenses are less than our estimate of $720,000, the amount of funds we intend to be held outside the trust account would increase by
a corresponding amount.

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We intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust account (which interest shall be net of amounts released to us to fund our working capital requirements (subject to the limitations described herein) and taxes paid or payable, and excluding deferred underwriting commissions) to complete our initial business combination. We may withdraw interest to pay our taxes and permitted withdrawals. We may pay from funds from this offering held outside of the trust account or from interest earned on the funds held in the trust account and released to us for this purpose. Our annual income tax obligations will depend on the amount of interest and other income earned on the amounts held in the trust account. We expect the interest earned on the amount in the trust account, plus permitted withdrawals, will be sufficient to pay our income taxes. To the extent that our equity or debt is used, in whole or in part, as consideration to complete our initial business combination, the remaining proceeds held in the trust account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

Prior to the completion of
our initial business combination, we will have available to us the approximately $[●] of proceeds held outside the trust account
plus permitted withdrawals. We will use these funds to primarily identify and evaluate target businesses, perform business due diligence
on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their
representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate
and complete a business combination.

We do not believe we will
need to raise additional funds following this offering in order to meet the expenditures required for operating our business prior to
our initial business combination. However, if our estimates of the costs of identifying a target business, undertaking in-depth due diligence
and negotiating an initial business combination are less than the actual amount necessary to do so, we may have insufficient funds available
to operate our business prior to our initial business combination. We have not selected any specific business combination target but may
target businesses with enterprise values that are greater than what we could acquire with the net proceeds of this offering and the sale
of the private placement warrants. As a result, we may need to obtain additional financing either to complete our initial business combination
or because we become obligated to redeem a significant number of our public shares upon completion of our initial business combination,
in which case we may issue additional securities or incur debt in connection with such business combination. In order to fund working
capital deficiencies or finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate
of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. If we complete
our initial business combination, we would repay such loaned amounts. In the event that our initial business combination does not close,
we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust
account would be used for such repayment. Up to $1,500,000 of such working capital loans may be convertible into warrants of the post
business combination entity at a price of $1.00 per warrant at the option of the lender. The warrants would be identical to the private
placement warrants. The terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans.
Prior to the completion of our initial business combination, we do not expect to seek loans from parties other than our sponsor or an
affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all
rights to seek access to funds in our trust account.

We expect our primary liquidity
requirements during that period to include approximately [●] for accounting, due diligence, travel and other expenses associated
with structuring, negotiating and documenting successful business combinations; [●] for legal and accounting fees related to regulatory
reporting requirements; [●] for Nasdaq and other regulatory fees; [●] for director and officer insurance; and approximately
[●] for general working capital that will be used for miscellaneous expenses and reserves (excluding administrative fees to our
sponsor as discussed below). We will also pay our sponsor $15,000 per month for office space, secretarial and administrative services
provided to members of our management team subsequent to the closing of this offering.

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These amounts are estimates and may differ materially from our actual expenses. In addition, we could use a portion of the funds not being placed in trust to pay commitment fees for financing, fees to consultants to assist us with our search for a target business or as a down payment or to fund a “no-shop” provision (a provision designed to keep target businesses from “shopping” around for transactions with other companies or investors on terms more favorable to such target businesses) with respect to a particular proposed business combination, although we do not have any current intention to do so. If we entered into an agreement where we paid for the right to receive exclusivity from a target business, the amount that would be used as a down payment or to fund a “no-shop” provision would be determined based on the terms of the specific business combination and the amount of our available funds at the time. Our forfeiture of such funds (whether as a result of our breach or otherwise) could result in our not having sufficient funds to continue searching for, or conducting due diligence with respect to, prospective target businesses.