LAKE FOREST, Calif.--(BUSINESS WIRE)--Now part of a franchise portfolio owned by Yadav Enterprises, Del Taco announces the formal start of business operations under the Yadav umbrella. ...

Financial Performance - For the three months ended September 30, 2025, the company reported a net income of approximately $3.2 million, primarily from $3.3 million of interest income[148]. - For the nine months ended September 30, 2025, the company reported a net income of approximately $5.0 million, consisting of approximately $5.4 million of interest income[149]. - As of September 30, 2025, the company had approximately $325,000 in cash and a working capital of approximately $216,000[141]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $300.15 million from the sale of 30,015,000 Units at $10.00 per Unit, with offering costs of approximately $17.8 million[129]. - The underwriters received an upfront underwriting fee of approximately $1.5 million upon the closing of the Initial Public Offering[155]. - The company granted underwriters a 45-day option to purchase up to 3,915,000 additional Units to cover over-allotments, which was fully exercised on May 1, 2025[154]. - The Deferred Fee to underwriters is approximately $11.7 million, payable only if the company completes an Initial Business Combination[155]. Business Combination - The company has entered into a non-binding letter of intent for a potential business combination with OnMed LLC, a developer of healthcare infrastructure solutions[139]. - The Initial Business Combination must involve businesses with an aggregate fair market value of at least 80% of the Trust Account value at the time of the agreement[133]. - The company has not yet selected a specific business combination target and has not initiated substantive discussions with any potential targets[127]. - Various macroeconomic and geopolitical risks could negatively impact the company's search for an Initial Business Combination[145]. Trust Account and Expenses - The company deposited $300.15 million in a Trust Account, which will be held until the completion of the Initial Business Combination or other specified conditions[131]. - The company will incur increased expenses due to being a public company, including legal and compliance costs[147]. - The company agreed to reimburse the Sponsor $15,000 per month for administrative services starting May 1, 2025, with a total of $45,000 recorded for the three months ended September 30, 2025[151]. - The company recorded $37,500 in general and administrative expenses for CFO services for the three months ended September 30, 2025[157]. - The company recorded an outstanding balance of $75,000 in accrued expenses related to administrative services as of September 30, 2025[151]. - As of September 30, 2025, the company had no off-balance sheet arrangements or contractual obligations[161]. Regulatory and Compliance - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[162]. - The company will indemnify the Sponsor from claims related to the Initial Public Offering or its operations, with indemnified parties unable to access Trust Account funds[153]. Warrant Valuation - The fair value per Public Warrant and Private Placement Warrant was approximately $0.144, based on a Monte Carlo simulation with an exercise price of $11.50 and an estimated underlying stock price of $10.07[160].

Group 1 - The core focus of Berto Acquisition Corp. (TACO) is on growth-stage businesses in the AI, wellness, and longevity sectors, leveraging the current market trends [1][2] - TACO's management team has identified these thematic areas as particularly attractive, indicating a strategic approach to target selection [2] - The executive team possesses extensive deal-making experience and operational expertise, aiming to build momentum post-merger [3] Group 2 - TACO has demonstrated significantly low redemption rates in past SPAC transactions, with rates between 0% and 3%, compared to the industry average of approximately 68% [4] - This low redemption rate reflects high market confidence in TACO's ability to create value for investors and partners [4]

IPO and Financial Proceeds - The Initial Public Offering (IPO) generated gross proceeds of $300.15 million from the sale of 30,015,000 Units at $10.00 per Unit, with offering costs of approximately $17.8 million[122]. - The Trust Account holds $300.15 million in net proceeds from the IPO and Private Placement, which will remain until the completion of the Initial Business Combination or other specified conditions[125]. - The company intends to apply substantially all net proceeds from the IPO towards consummating an Initial Business Combination with businesses having an aggregate fair market value of at least 80% of the Trust Account[127]. - The upfront underwriting fee amounted to approximately $1.5 million, with a deferred fee of about $11.7 million contingent on completing an Initial Business Combination[148]. Financial Performance - For the three months ended June 30, 2025, the company reported a net income of approximately $1.9 million, primarily from $2.1 million of interest income[141]. - For the six months ended June 30, 2025, the company reported a net income of approximately $1.8 million, also primarily from $2.1 million of interest income[142]. - As of June 30, 2025, the company had approximately $361,000 in cash and a working capital of approximately $392,000[134]. Business Combination and Strategy - The company has not yet selected a specific business combination target and has not initiated substantive discussions with any potential targets[120]. - The company may incur increased expenses due to being a public company, including legal, financial reporting, and due diligence expenses[140]. - The company has the option to provide Working Capital Loans to finance transaction costs related to the Initial Business Combination, which may be convertible into warrants[136]. - Various macroeconomic and geopolitical risks, including inflation and conflicts, could adversely affect the company's search for an Initial Business Combination[138]. Administrative and Operational Matters - The company agreed to reimburse the Sponsor $15,000 per month for administrative services starting May 1, 2025[144]. - As of June 30, 2025, the company recorded an outstanding balance of $30,000 in accrued expenses related to administrative fees[144]. - The company may pay cash compensation to independent directors and consulting fees to affiliates in connection with the Initial Business Combination[145]. - The company will indemnify the Sponsor from claims related to the Initial Public Offering or its operations[146]. Regulatory and Compliance - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[155]. - The company is exempt from certain reporting requirements for five years following the completion of its Initial Public Offering[156]. - The company has no off-balance sheet arrangements or contractual obligations as of June 30, 2025[154]. Underwriting and Warrant Information - The underwriters were granted a 45-day option to purchase up to 3,915,000 additional Units, which was fully exercised on May 1, 2025[147]. - The fair value per warrant was approximately $0.144, based on an exercise price of $11.50 and an estimated underlying stock price of $10.07[153].

IPO and Financial Proceeds - The Initial Public Offering (IPO) generated gross proceeds of $300.15 million from the sale of 30,015,000 units at $10.00 per unit, with offering costs of approximately $17.8 million[123]. - A total of 3,500,000 warrants were issued in a private placement to the Sponsor at a price of $1.00 per warrant, generating additional gross proceeds of $3.5 million[124]. - The Trust Account holds $300.15 million of net proceeds from the IPO, which will be used for the Initial Business Combination[126]. - The upfront underwriting fee amounted to approximately $1.5 million, with a deferred underwriting fee of approximately $11.7 million contingent on the completion of an Initial Business Combination[147]. - The underwriters were granted a 45-day option to purchase up to 3,915,000 additional Units to cover over-allotments at the Initial Public Offering price[146]. Financial Position and Performance - As of March 31, 2025, the company had approximately $11,000 in cash and a working capital deficit of approximately $1.1 million[134]. - The company incurred a net loss of approximately $18,000 for the three months ended March 31, 2025, consisting solely of general and administrative expenses[141]. - As of March 31, 2025, the company reported no off-balance sheet arrangements or contractual obligations[152]. Business Combination Plans - The Initial Business Combination must involve businesses with an aggregate fair market value of at least 80% of the Trust Account value at the time of the agreement[128]. - The company has a completion window of 24 months from the IPO closing date, or until May 1, 2027, to complete the Initial Business Combination[133]. - The company has not yet selected a specific business combination target and has not initiated substantive discussions with any potential targets[121]. Risks and Expenses - Various macroeconomic and geopolitical risks could adversely affect the company's search for an Initial Business Combination and the performance of any target business[139]. - The company may incur increased expenses due to being a public entity, including legal and compliance costs, as well as due diligence expenses[140]. Governance and Compliance - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new or revised accounting standards[153]. - The holders of Founder Shares and Sponsor Private Placement Warrants are entitled to make up to three demands for registration of securities[142]. - The company will indemnify its Sponsor from claims related to the Initial Public Offering or business operations[145]. - The company may pay cash compensation to independent directors and consulting fees to affiliates in connection with the Initial Business Combination[144]. - Deferred offering costs related to the Initial Public Offering will be charged against shareholders' deficit upon completion[150]. - There are currently no Public or Private Warrants outstanding as of March 31, 2025[151]. Administrative Services - The company will reimburse the Sponsor or an affiliate $15,000 per month for administrative services starting May 1, 2025, ceasing upon the completion of the Initial Business Combination[143].