Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 580

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 5
Chunk 580
---
share purchase, reorganization or similar business combination with one or more businesses (“Business Combination”). We intend
to effectuate our Business Combination using cash derived from the proceeds of the IPO and the sale of the Private Placement Units, our
shares, 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.

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 December 31, 2024 were organizational
activities, those necessary to prepare for the IPO, 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 period from September 11, 2024 (inception)
through December 31, 2024, we had a net income of $381,082, which consisted of interest earned on marketable securities held in the
Trust Account of $558,478, offset by operating expenses of $177,396.

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 Unit 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 Unit, a total of $232,300,000 was placed
in the Trust Account. We incurred transaction costs of $5,157,741, consisting