New York, May 21, 2026, 13:17 EDT
- Berto Acquisition Corp. II units traded at $10.01 at 1:13 p.m. EDT, unchanged on volume of about 71,354 units.
- Linden Advisors and Siu Min Wong disclosed beneficial ownership of 1.7 million ordinary shares, or about 5.4%, a Schedule 13G filing showed.
- The company closed a $315.1 million upsized IPO this week and put $315.1 million in trust, equal to $10 per public unit sold.
Berto Acquisition Corp. II’s newly listed Nasdaq units held near their $10 issue price on Thursday, as a fresh 5%-plus ownership filing gave investors one of the first post-IPO signals in Harry You’s latest blank-check vehicle.
The live quote is GUACU, not yet GUAC. The company said the ordinary shares and warrants are expected to trade separately later under GUAC and GUACW; for now, each unit includes one ordinary share and one-third of a redeemable warrant, a contract that lets a holder buy a share later at a set price.
That is why the $10 area matters. Berto II placed $315.1 million, or $10 for each public unit sold, into a trust account, the pool of cash that typically backs shareholder redemptions if a special purpose acquisition company, or SPAC, fails to complete a deal or investors reject one.
The latest filing came from Linden Capital L.P., Linden GP LLC, Linden Advisors LP and Siu Min Wong. The filing said Linden Advisors and Wong may be deemed beneficial owners of 1.7 million shares, or 5.4%, while Linden Capital and Linden GP may be deemed beneficial owners of 1,635,487 shares, or 5.2%. Those positions overlap and should not be added together.
A Schedule 13G is a disclosure used by certain large holders that pass the 5% line. In this case, the filing checked Rule 13d-1(c) and certified the securities were not acquired to change or influence control of the issuer, limiting the immediate governance read.
Berto II closed its upsized initial public offering on May 18, selling 31.51 million units at $10 each, including 4.11 million units from the full exercise of the underwriters’ over-allotment option. Needham & Company was the sole book-running manager.
The prospectus says Berto II has not selected a target and has not held substantive talks with one. It also says the company will examine opportunities in artificial intelligence and the AI infrastructure and supply-chain ecosystem, including data, energy and infrastructure businesses that support AI scaling.
That focus puts Berto into a crowded pipe. Boardroom Alpha said 16 SPAC IPOs had priced in May through May 21, raising $2.27 billion, and 94 had priced year-to-date, raising $16.76 billion. A same-day peer, Iron Dome Acquisition I Corp., raised $150 million and is also looking at technology themes including cyber, defense tech, AI and data.
The broader market tone was not much help. Reuters reported U.S. stocks were lower on Thursday as rising oil prices, higher Treasury yields and inflation worries weighed on risk appetite.
But the risk is plain. Berto II still has to find a target, negotiate a deal and keep enough investors from redeeming their shares. The prospectus gives the company 24 months from the offering close to complete a business combination, or 27 months if it has signed a letter of intent or similar agreement within the first 24 months.
For now, the unit price says investors are not assigning much premium beyond the cash held in trust. The next clear catalysts are separate trading of GUAC and GUACW, any further large-holder filings, and, more important, a target announcement.
