Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 66

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 66
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 rules require that our initial business combination must be with one or more operating businesses or assets with a fair market
value equal to at least 80% of the assets held in the trust account (net of amounts disbursed to management for working capital purposes
and excluding the amount of any deferred underwriting discount held in trust). We refer to this as the 80% fair market value test. If
our board of directors is not able to independently determine the fair market value of the target business or businesses, we will obtain
an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect
to the satisfaction of such criteria. We do not currently intend to purchase multiple businesses in unrelated industries in conjunction
with our initial business combination, although there is no assurance that will be the case. In addition, pursuant to the NYSE listing
rules, our initial business combination must be approved by a majority of our independent directors.  

We anticipate structuring
our initial business combination so that the post-transaction company in which our public shareholders own shares will own or acquire
100% of the issued and outstanding equity interests or assets of the target business or businesses. We may, however, structure our initial
business combination such that the post-transaction company owns or acquires less than 100% of such interests or assets of the target
business in order to meet certain objectives of the target management team or shareholders or for other reasons, but we will only complete
such business combination if the post-transaction company owns or acquires 50% or more of the issued and outstanding voting securities
of the target or otherwise acquires a controlling interest in the target business sufficient for it not to be required to register as
an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). Even
if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our shareholders prior to our initial
business combination may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the
target and us in our initial business combination transaction. For example, we could pursue a transaction in which we issue a substantial
number of new shares in exchange for all of the issued and outstanding capital stock, shares or other equity securities of a target business
or issue a substantial number of new shares to third-parties in connection with financing our initial business combination. In this case,
we would acquire a