Company: JACS-RI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001213900-25-041127
Chunk: 27

Company: Jackson Acquisition Co II
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 income of $2,227,401 was offset by
interest earned on marketable securities of $2,433,722 and changes in operating assets and liabilities, which provided $12,923 of cash
from operating activities.

At March 31, 2025, we had investments held in
the Trust Account of $235,292,200. 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 an initial 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 March 31, 2025, we had cash of $755,968 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.

20

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 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 for each such person
may be convertible into Units of the post-Business Combination entity at a price of $10.00 per Unit. At March 31, 2025 and December
31, 2024, no amounts were outstanding under the Working Capital Loans.

We do not believe we will need to raise additional
funds in order to meet the expenditures required