Company: JACS-RI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073677
Chunk: 65

Company: Jackson Acquisition Co II
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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 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 June 30, 2025, we had cash of $721,661 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.

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 June 30, 2025 and December 31, 2024, no amounts were outstanding under the Working Capital
Loans.

20

We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business. However, if our estimate of the costs of identifying a target
business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so,
we may have insufficient funds available to operate our business prior to our initial Business Combination. Moreover, we may need to obtain
additional financing either to complete our Business Combination or because we become obligated to redeem a significant number of our
public shares upon completion of our Business Combination