Company: JACS-RI
Filing Date: 2025-01-15
Form Type: 10-Q
Source: 0001213900-25-003881
Chunk: 16

Company: Jackson Acquisition Co II
Filing Date: 2025-01-15
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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, the Company issued
an unsecured promissory note to RJ Healthcare SPAC II, LLC (the “Promissory Note”), pursuant to which the Company may
borrow up to an aggregate principal amount of $300,000. The Promissory Note is non-interest bearing and payable on the earlier of (i) March 31,
2025 or (ii) the consummation of the Initial Public Offering. As of September 30, 2024, there was $120,368 outstanding under the
Promissory Note.

Administrative Services Agreement

The Company entered into an agreement with the
Sponsor, commencing on December 9, 2024 through the earlier of the Company’s consummation of a Business Combination and its liquidation,
to pay an aggregate of $10,000 per month for office space and administrative and support services.

Related Party Loans

In order to finance transaction costs in connection
with a Business Combination, either of the Sponsor, any of their respective affiliates or certain of the Company’s directors and
officers may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company
completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released
to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that
a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital
Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms
of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working
Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion,
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. The Units would be identical to the Private Placement Units. As of September 30, 2024, there
are no Working Capital Loans outstanding.

NOTE 6. COMMITMENTS AND CONTINGENCIES  

Registration Rights

The holders of the Founder Shares, Private Placement
Shares, Private Placement Units, and