Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 88

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 88
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 within
the 24-month time period.

Our initial shareholders have
entered into a letter agreement with us, pursuant to which they have waived their rights to liquidating distributions from the Trust Account
with respect to their founder shares and private placement shares if we fail to complete our initial business combination by December
11, 2026. However, if our initial shareholders acquire public shares, they will be entitled to liquidating distributions from the Trust
Account with respect to such public shares if we fail to complete our initial business combination within the allotted 24-month time period.

Our Sponsor, directors and
officers have agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated memorandum
and articles of association (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial
business combination or to redeem 100% of our public shares if we do not complete our initial business combination December 11, 2026 or
(B) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity, in each
case unless we provide our public shareholders with the opportunity to redeem their Class A Ordinary Shares upon approval of any
such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
(which interest shall be net of taxes payable), divided by the number of then issued and outstanding public shares.

We expect that all costs and
expenses associated with implementing our plan of dissolution, as well as payments to any creditors, will be funded from amounts remaining
out of the $1,065,000 of proceeds held outside the Trust Account, although we cannot assure you that there will be sufficient funds for
such purpose. However, if those funds are not sufficient to cover the costs and expenses associated with implementing our plan of dissolution,
to the extent that there is any interest accrued in the Trust Account not required to pay taxes, we may request the trustee to release
to us an additional amount of up to $100,000 of such accrued interest to pay those costs and expenses.

If we were to expend all of
the net proceeds of our IPO and the sale of the Private Placement Units, other than the proceeds deposited in the Trust Account, and without
taking into account interest, if any, earned on the Trust Account, the per-share redemption amount received by shareholders upon our dissolution
would be approximately $10.10. The proceeds deposited in the Trust