Company: JACS-RI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001213900-25-041127
Chunk: 47

Company: Jackson Acquisition Co II
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 47
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 in cash
and no cash equivalents as of March 31, 2025 and December 31, 2024, respectively.

10

Investments Held in Trust Account

 At March 31, 2025 and 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 condensed balance sheets 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 marketable securities held in Trust Account in the accompanying
unaudited condensed statement 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 March 31, 2025 and December 31, 2024, the Company reported $235,292,200 and $232,858,478 in investments held
in the Trust Account, respectively.

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 (“FASB”)
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 Public Shares were charged to temporary
equity, and offering costs allocated to Public Share Rights (as defined below) and Private Placement Units were charged to shareholders’
equity as the Public Share Rights and Private Placement Rights (as defined below), after management’s evaluation, were accounted
for under equity treatment.

Income Taxes

The Company accounts for income taxes under ASC 740,
“Income Taxes” (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities
for both