Company: JACS-RI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001213900-25-041127
Chunk: 26

Company: Jackson Acquisition Co II
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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, debt or a combination of cash, shares and debt.

We expect to continue to incur significant
costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will be successful.

19

Results of Operations

We have neither engaged in any operations nor
generated any revenues to date. Our only activities from September 11, 2024 (inception) through March 31, 2025 were organizational
activities, those necessary to prepare for the Initial Public Offering, described below, and identifying a target company for a Business
Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination. We generate non-operating
income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended March 31, 2025, we
had net income of $2,227,401, which consisted of interest earned on marketable securities held in Trust Account of $2,433,722, offset
by operational costs of $206,321.

Liquidity and Capital Resources

On December 11, 2024, we consummated the Initial
Public Offering of 23,000,000 Units, which includes the full exercise by the underwriters of their over-allotment option in the amount
of 3,000,000 Units, at $10.00 per Unit, generating gross proceeds of $230,000,000. Simultaneously with the closing of the Initial Public
Offering, we consummated the sale of 840,000 Private Placement Units at a price of $10.00 per Private Placement Unit in a private placement
to the Sponsor and Roth Capital Partners, LLC, representative of the underwriters (“Roth”), generating gross proceeds of $8,400,000.

Following the Initial Public Offering, the full
exercise of the over-allotment option, and the sale of the Private Placement Units, a total of $232,300,000 was placed in the Trust Account.
We incurred transaction costs of $5,157,741, consisting of $4,600,000 of cash underwriting fee and $557,741 of other offering costs.

For the three months ended March 31, 2025, net cash used in operating activities was $193,398. Net