Company: JACS-RI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073677
Chunk: 79

Company: Jackson Acquisition Co II
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 79
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 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 six months ended June 30, 2025, net cash
used in operating activities was $227,705. Net income of $4,545,737 was offset by interest earned on marketable securities of $4,881,095
and changes in operating assets and liabilities, which provided $107,653 of cash from operating activities.

At June 30, 2025, we had marketable securities
held in the Trust Account of $237,739,573. We intend to use substantially all of the funds held in the Trust Account, including any amounts
representing interest earned in the Trust Account, which interest shall be net of taxes payable, if any, to complete an initial Business
Combination. We may withdraw interest from the Trust Account to pay taxes, if any. To the extent that our share capital or debt is used,
in whole or in part, as consideration to complete a Business Combination, the remaining proceeds held in the Trust Account will be used
as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

At June 30, 2025, we had cash of $721,661 held
outside of the Trust Account. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses,
perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective
target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses,
structure, negotiate and complete a Business Combination.

In order to fund working capital
deficiencies or finance transaction costs in connection with a Business Combination, our Sponsor or an affiliate of our Sponsor or
certain of our officers and directors may, but are not obligated to, loan us funds as may be required (“