Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 513

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 4
Chunk 513
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 the Trust Account. We incurred transaction costs of $5,157,741, consisting of $4,600,000 of cash underwriting fee and $557,741 of other
offering costs.

24

For the period from September
11, 2024 (inception) through December 31, 2024, net cash used in operating activities was $302,833. Net income of $381,082 was offset
by interest earned on marketable securities of $558,478, formation costs paid by Sponsor in exchange for issuance of Class B ordinary
shares of $8,148, payment of operation costs through promissory note of $60,420, and changes in operating assets and liabilities, which
used $194,005 of cash from operating activities.

At December 31, 2024, we had investments held
in the Trust Account of $232,858,478. 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 taxes payable, if any, to complete our Business Combination.
We may withdraw interest from the Trust Account to pay taxes, if any. To the extent that our share capital or debt is used, in whole or
in part, as consideration to complete a 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.

At December 31, 2024, we had cash of $949,366
held outside of the Trust Account. We intend to use the funds held outside the Trust Account primarily to 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, structure, negotiate and complete a Business Combination.

In order to fund working capital deficiencies
or finance transaction costs in connection with a 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 (“Working Capital Loans”). If we complete a
Business Combination, we may repay such loaned amounts out of the proceeds of the Trust Account released to us. In the event that a Business
Combination does not close, we may use a portion of the working capital held outside