Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 144

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 144
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 cash underwriting fee and $557,741 of other offering costs.

The Company’s management has broad discretion
with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of the Private Placement Units,
although substantially all of the net proceeds are intended to be applied generally toward completing a Business Combination. The Company
must complete its initial Business Combination with one or more target businesses that together have a fair market value equal to at least
80% of the net assets held in the Trust Account (as defined below) (excluding the Business Combination Marketing Fee (see Note 6) and
taxes payable on the income earned on the trust account, if any) at the time of the agreement to enter into a Business Combination. The
Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the issued
and outstanding voting securities of the target or otherwise acquires a controlling interest in the target business sufficient for it
not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment
Company Act”). There is no assurance that the Company will be able to successfully effect a Business Combination.

Following the closing of the Initial Public Offering
on December 11, 2024, an amount of $232,300,000 ($10.10 per Unit) from the net proceeds of the sale of the Units, and a portion of the
net proceeds from the sale of the Private Placement Units, was placed in the trust account (“Trust Account”), located in the
United States, with Continental Stock Transfer & Trust Company acting as trustee. The funds will be held in cash, including in demand
deposit accounts at a bank, or invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market
funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury
obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended
Business Combination. To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment
Company Act, which risk increases the longer the Company holds investments in the Trust Account, the Company may, at any time instruct
the trustee to liquidate the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash