Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 493

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 3
Chunk 493
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 placement in accordance with the guidance contained
in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and classified the rights under equity
treatment at its assigned value.

Class A Redeemable Share Classification

The Public Shares contain a redemption feature
which allows for the redemption of such Public Shares in connection with the Company’s liquidation, or if there is a shareholder
vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company
classifies Public Shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control
of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable
shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering,
the Company recognized the accretion from initial book value to redemption value. The change in the carrying value of redeemable shares
will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of December
31, 2024, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the
shareholders’ equity section of the Company’s balance sheet. As of December 31, 2024, the Class A ordinary shares subject
to possible redemption reflected in the balance sheet are reconciled in the following table:

    Shares  
    Amount 
  
    Gross proceeds 
     23,000,000  
    $230,000,000 
  
    Less: 

    Proceeds allocated to Public Share Rights 
        
     (2,760,000)
  
    Class A ordinary shares issuance costs 
        
     (5,076,432)
  
    Plus: 

    Remeasurement of carrying value to redemption value 
        
     10,694,910 
  
    Class A ordinary shares subject to possible redemption, December 31, 2024 
     23,000,000  
    $232,858,478 

Net Income Per Ordinary Share

The Company complies with accounting and disclosure
requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of ordinary shares, which are referred
to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared