Company: JACS-RI
Filing Date: 2025-01-15
Form Type: 10-Q
Source: 0001213900-25-003881
Chunk: 43

Company: Jackson Acquisition Co II
Filing Date: 2025-01-15
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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 risk consist of a cash account in a financial institution, which, at times, may exceed the Federal
Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant
adverse impact on the Company’s financial condition, results of operations, and cash flows.

Fair Value of Financial Instruments

The fair value of the Company’s assets and
liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying
amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

Share Rights

The Company accounts for the Public Share Rights
and Private Placement Rights issued in connection with the Initial Public Offering and the private placement in accordance with the guidance
contained in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and classified the rights under
equity treatment at its assigned value.

Net Loss per Ordinary Share

 Net loss per ordinary share is computed by dividing
net loss by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture.
Weighted average shares were reduced for the effect of an aggregate of 750,000 ordinary shares that were subject to forfeiture by the
holders thereof depending on the extent to which the underwriter’s over-allotment option was exercised (see Note 5). At September
30, 2024, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into
ordinary shares and then share in the earnings of the Company. As a result, diluted loss per ordinary share is the same as basic loss
per ordinary share for the periods presented.

10

Recently Issued Accounting Standards

Management does not believe that any other recently
issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s condensed
financial statement.

NOTE 3. INITIAL PUBLIC OFFERING 

Pursuant to the Initial Public Offering, on December
11, 2024, the Company sold 23,000,000 Units, which includes the full exercise by the underwriters of their over-allotment option in the
amount of 3,000,000 Units, at a price of $10.00 per Unit. Each Unit consists of one Class A ordinary share and one right entitling the
holder thereof to receive one tenth (1/10) of one Class A ordinary share upon