Company: JACS-RI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001213900-25-107171
Chunk: 61

Company: Jackson Acquisition Co II
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 Class A ordinary shares for cash, securities or other property.

Promissory Note — Related Parties

On September 13, 2024, 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 was payable on the earlier of (i) March 31, 2025
or (ii) the consummation of the Initial Public Offering.

On May 7, 2025, the Promissory Note was amended
such that the Promissory Note is payable upon consummation of an initial Business Combination or upon liquidation of the Company.

As of September 30, 2025 and December 31, 2024,
there was $198,024 outstanding under the Promissory Note.

14

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 or its liquidation,
to pay an aggregate of $10,000 per month for office space and administrative and support services. For the three and nine months ended
September 30, 2025, the Company incurred $30,000 and $90,000 for these services, respectively. For the period from September 11, 2024
(inception) through September 30, 2024, the Company did not incur any fees for these services. At September 30, 2025 and December 31,
2024, the Company owed $97,000 and $7,000, respectively, for these services.

Related Party Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor, any of its 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