Company: JACS-RI
Filing Date: 2025-01-15
Form Type: 10-Q
Source: 0001213900-25-003881
Chunk: 20

Company: Jackson Acquisition Co II
Filing Date: 2025-01-15
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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in accordance with the applicable provisions of Cayman Islands Law. As a result, holders must hold rights in multiples of ten in order
to receive shares for all of their rights upon closing of a Business Combination. If the Company is unable to complete an initial Business
Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of rights will not
receive any of such funds with respect to their rights, nor will they receive any distribution from the assets held outside of the Trust
Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual penalties for failure to
deliver securities to the holders of the rights upon consummation of an initial Business Combination. Additionally, in no event will the
Company be required to net cash settle the rights. Accordingly, the rights may expire worthless.

NOTE 8. SUBSEQUENT EVENTS 

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the condensed financial statements were issued. Based upon this review,
other than as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in
the condensed financial statements.

 On November 18, 2024, the Sponsor transferred
an aggregate of 200,000 Founder Shares to the Company’s officers and directors at their original purchase price. The fair value
of the 200,000 shares granted to the Company’s officers and directors was $206,000 or $1.03 per share. The Founder Shares were granted
subject to a performance condition (i.e., the occurrence of a Business Combination).

On December 11, 2024, the Company consummated
the Initial Public Offering of 23,000,000 Units, which includes the full exercise by the underwriters of their over-allotment option in
the amount of 3,000,000 Units, at $10.00 per Unit, generating gross proceeds of $230,000,000, which is described in Note 3. Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of 840,000 Private Placement Units at a price of $10.00
per Private Placement Unit in a private placement to the Sponsor and Roth, generating gross proceeds of $8,400,000, which is described
in Note 4.

On December 11, 2024, in connection with the closing of the Initial
Public Offering, the