Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 423

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 2
Chunk 423
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 and liabilities
and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses
during the reporting periods.

Making estimates requires management to exercise
significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances
that existed at the date of the financial statement, which management considered in 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 $949,366 in cash and no cash
equivalents as of December 31, 2024.

F-10

Investment Held in Trust Account

At 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 balance
sheet 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 investments held in Trust Account in the accompanying statements 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 December
31, 2024, the Company reported $232,858,478 in investments held in the Trust Account.

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 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