Company: JACS-RI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073677
Chunk: 49

Company: Jackson Acquisition Co II
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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 formulating its estimate, could change in the near
term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company had $721,661 and $949,366 in cash
and no cash equivalents as of June 30, 2025 and December 31, 2024, respectively.

10

Marketable Securities Held in Trust Account

At June 30, 2025 and December 31, 2024, substantially
all of the assets held in the Trust Account were held in money market funds which are invested primarily in U.S. Treasury securities.
All of the Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented
on the condensed balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair
value of investments held in the Trust Account are included in interest earned on marketable securities held in Trust Account in the
accompanying unaudited condensed statement of operations. The estimated fair values of investments held in Trust Account are determined
using available market information. Fair values of these investments are determined by Level 1 inputs utilizing quoted prices (unadjusted)
in active markets for identical assets. As of June 30, 2025 and December 31, 2024, the Company reported $237,739,573 and $232,858,478
in investments held in the Trust Account, respectively.

Offering Costs

The Company complies with the requirements of
the ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs consist principally
of professional and registration fees that are related to the Initial Public Offering. Financial Accounting Standards Board (“FASB”)
ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible
debt into its equity and debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Units
between Class A ordinary shares and Share Rights, using the residual method by allocating Initial Public Offering proceeds first to assigned
value of the Share Rights and then to the Class A ordinary shares. Offering costs allocated to Public Shares were charged to temporary
equity, and offering costs allocated to Public Share Rights (as defined below) and