Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 83

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 83
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 public shares held by them in favor of our initial business combination (except that
any public shares such parties may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act would not be voted
in favor of approving the business combination transaction). We expect that at the time of any shareholder vote relating to our initial
business combination, our initial shareholders and their permitted transferees will own at least 20% of our issued and outstanding ordinary
shares entitled to vote thereon. Each public shareholder may elect to redeem their public shares without voting and, if they do vote,
irrespective of whether they vote for or against the proposed transaction. In addition, our initial shareholders, directors and officers
have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any
founder shares and public shares held by them in connection with the completion of a business combination.

12

Our amended and restated memorandum
and articles of incorporation provides that in no event will we redeem our public shares in connection with our initial business combination
in an amount that would cause our net tangible assets, after payment of the Marketing Fee, to be less than $5,000,001 (following such
redemptions) upon the completion of our initial business combination or any greater net tangible asset or cash requirement that may be
contained in the agreement relating to our initial business combination. Redemptions of our public shares may also be subject to a higher
net tangible asset test or cash requirement pursuant to an agreement relating to our initial business combination. For example, the proposed
business combination may require: (1) cash consideration to be paid to the target or its owners; (2) cash to be transferred
to the target for working capital or other general corporate purposes; or (3) the retention of cash to satisfy other conditions in
accordance with the terms of the proposed business combination. In the event the aggregate cash consideration we would be required to
pay for all public shares that are validly submitted for redemption plus any amount required to satisfy cash conditions pursuant to the
terms of the proposed business combination exceed the aggregate amount of cash available to us, we will not complete the business combination
or redeem any shares, and all ordinary shares submitted for redemption will be returned to the holders thereof, and we instead may search
for an alternate business combination.

Limitation on redemption upon completion of
our initial business combination if we seek shareholder approval

Notwithstanding the foregoing