Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 61

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 61
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Item 1. Business Overview.

We are a blank check exempted
company incorporated in the Cayman Islands on September 11, 2024, for the purpose of entering into a merger, share exchange, asset acquisition,
share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. While
we may pursue an initial business combination target in any industry or geographic location, we intend to focus our search for a target
business by concentrating our efforts in identifying high-quality businesses with a focus on healthcare services, healthcare technology,
or otherwise focused on the healthcare industry. We intend to utilize cash derived from the proceeds of our initial public offering
(the “IPO”), our securities, debt or a combination of cash, securities and debt, in effecting a business combination. We have
not selected any target business for our initial business combination.

Initial Public Offering and Private Placement

On December 11, 2024, we consummated
our IPO of 23,000,000 units (“Units”). Each Unit consists of one Class A ordinary share, $0.0001 par value per share (the
“Class A Ordinary Share”), and one right (the “Rights”) to receive one-tenth of one Class A Ordinary Share upon
the completion of the initial business combination. The Units were sold at an offering price of $10.00 per Unit, generating total gross
proceeds of $230,000,000. Simultaneously with the closing of the IPO, we completed the private sale (the “Private Placement”)
of 840,000 units (the “Private Placement Units”) (495,000 Private Placement Units purchased by the Sponsor and 345,000 Private
Placement Units purchased by Roth, at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to us of $8,400,000.
In connection with the offering of the Units and the sale of Private Placement Units, the proceeds of $232,300,000 from the proceeds of
the offering of the Units and the sale of Private Placement Units were placed in in a trust account (the “Trust Account”)
established for the benefit of our public shareholders and the underwriters of the IPO with Continental Stock Transfer & Trust Company
acting as trustee.

Our management has broad
discretion with respect to the specific application of the proceeds of the IPO and the Private Placement that are held out of the Trust
Account, although substantially all the net proceeds are intended to be