Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 36

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 8
Chunk 36
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 the sale of the Units, and a portion of the
net proceeds from the sale of the Private Placement Units, was placed in the trust account (“Trust Account”), located in the
United States, with Continental Stock Transfer & Trust Company acting as trustee. The funds will be held in cash, including in demand
deposit accounts at a bank, or invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market
funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury
obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended
Business Combination. To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment
Company Act, which risk increases the longer the Company holds investments in the Trust Account, the Company may, at any time instruct
the trustee to liquidate the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an
interest bearing demand deposit account at a bank. Except with respect to interest earned on the funds held in the Trust Account that
may be released to the Company to pay its taxes, if any, the proceeds from the Initial Public Offering and the sale of the Private Placement
Units will not be released from the Trust Account until the earliest of (i) the completion of the Company’s initial Business Combination,
(ii) the redemption of the Company’s public shares if the Company is unable to complete the initial Business Combination within
24 months from the closing of the Initial Public Offering (December 11, 2026) or by such earlier liquidation date as the Company’s
board of directors may approve (the “Completion Window”), subject to applicable law, or (iii) the redemption of the Company’s
public shares properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum and
articles of association to (A) modify the substance or timing of the Company’s obligation to allow redemption in connection with
the initial Business Combination or to redeem 100% of the Company’s public shares if the Company has not consummated an initial
Business Combination within the Completion Window or (B) with respect to any other material provisions relating to shareholders’
rights or pre-initial Business Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of
the Company’s creditors, if any