Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 700

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 6
Chunk 700
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 the Company issued
an unsecured promissory note to the Sponsor (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 December 31, 2024, there was $198,024 outstanding under the Promissory
Note, which is due on demand.

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. For the period from September 11, 2024
(inception) through December 31, 2024, the Company incurred and owes $7,000 for these services.

Related Party Loans

In order to finance transaction costs in connection
with a Business Combination, 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 December 31, 2024, there are no Working Capital Loans
outstanding