Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 241

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1B
Chunk 241
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 result of being a public company
(for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the period from September 11, 2024 (inception)
through December 31, 2024, we had a net income of $381,082, which consisted of interest earned on marketable securities held in the
Trust Account of $558,478, offset by operating expenses of $177,396.

Liquidity and Capital Resources

On December 11, 2024, we consummated the Initial Public Offering of
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 $10.00 per Unit, generating gross proceeds of $230,000,000. Simultaneously with the closing of the Initial Public Offering, we consummated
the sale of 840,000 Private Placement Unit at a price of $10.00 per Private Placement Unit in a private placement to the Sponsor and Roth
Capital Partners, LLC, representative of the underwriters (“Roth”), generating gross proceeds of $8,400,000.

Following the Initial Public
Offering, the full exercise of the over-allotment option, and the sale of the Private Placement Unit, a total of $232,300,000 was placed
in 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,