Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 858

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 8
Chunk 858
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 Company may borrow
up to an aggregate principal amount of $300,000. The Promissory Note is non-interest bearing and payable on the earlier of (i) March 31,
2025 or (ii) the consummation of the Initial Public Offering. As of December 31, 2024, there was $198,024 outstanding under the Promissory
Note, which is due on demand. In order to finance transaction costs in connection with an intended initial business combination, our Sponsor
or one of its affiliates has committed to loan us funds as may be required to a maximum of $1,500,000 to fund our additional working capital
requirements and transaction costs. If we complete our initial business combination, we would repay such loaned amounts out of the proceeds
of the Trust Account released to us. Otherwise, such loans would be repaid only out of funds held outside the Trust Account. Up to $1,500,000
of such loans may be convertible into units at the time of the business combination at a price of $10.00 per unit at the option of the
lender. After the completion of our initial business combination, directors or members of our management team who remain with us may be
paid consulting, management or other compensation from the combined company. All compensation will be fully disclosed to shareholders,
to the extent then known, in the tender offer materials or proxy solicitation materials furnished to our shareholders in connection with
a proposed business combination. It is unlikely the amount of such compensation will be known at the time, because the directors of the
post-combination business will be responsible for determining executive officer and director compensation. Any compensation to be paid
to our officers after the completion of our initial business combination will be determined by a compensation committee constituted solely
by independent directors.

We are not party to any agreements
with our directors and officers that provide for benefits upon termination of employment. The existence or terms of any such employment
or consulting arrangements may influence our management’s motivation in identifying or selecting a target business, and we do not
believe that the ability of our management to remain with us after the consummation of our initial business combination should be a determining
factor in our decision to proceed with any potential business combination.

37

Item 12. Security Ownership of Certain Beneficial
Owners and Management and Related Shareholder Matters.

The following table sets
forth information regarding the beneficial ownership of our ordinary shares as of the date hereof by:

    ●
    each