Company: JACS-RI
Filing Date: 2025-01-15
Form Type: 10-Q
Source: 0001213900-25-003881
Chunk: 49

Company: Jackson Acquisition Co II
Filing Date: 2025-01-15
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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 the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will
equal, in the aggregate, on an as-converted basis, 20% of the sum of all ordinary shares issued and outstanding upon the completion of
the Initial Public Offering plus all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with
a Business Combination, excluding any shares or equity-linked securities issued, or to be issued, to any seller in a Business Combination. 

13

Rights

Except in cases where the Company is not the surviving
company in a business combination, each holder of a right will automatically receive one-tenth (1/10) of one Class A ordinary share upon
consummation of the initial Business Combination, even if the holder of a public right redeemed all Class A ordinary shares held by it
in connection with the initial Business Combination or an amendment to the amended and restated memorandum and articles of association
with respect to the pre-business combination activities. In the event the Company will not be the surviving company upon completion of
the initial Business Combination, each holder of a right will be required to affirmatively convert its rights in order to receive the
one-tenth (1/10) of one Class A ordinary share underlying each right upon consummation of the Business Combination. No additional consideration
will be required to be paid by a holder of rights in order to receive its additional Class A ordinary shares upon consummation of an initial
Business Combination. The shares issuable upon exchange of the rights will be freely tradable (except to the extent held by affiliates
of the Company). If the Company enters into a definitive agreement for a Business Combination in which it will not be the surviving entity,
the definitive agreement will provide for the holders of rights to receive the same per share consideration the holders of the Class A
ordinary shares will receive in the transaction on an as-converted into Class A ordinary share basis.

The Company will not issue fractional shares in
connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed
in accordance with the applicable provisions of Cayman Islands Law. As a result, holders must hold rights in multiples of ten in order
to receive shares for all of their rights upon closing of a Business Combination. If the Company is unable to complete an initial Business
Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of rights will not