Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 244

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1B
Chunk 244
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Recent Accounting Pronouncements

In August 2020, the FASB issued
Accounting Standards Update (“ASU”) No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives
and Hedging Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s
Own Equity (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required
under current GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for the
derivative scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The provisions of ASU 2020-06
are applicable for fiscal years beginning after December 15, 2023, with early adoption permitted no earlier than fiscal years beginning
after December 15, 2020. The Company adopted ASU 2020-06 during the period of the audit on a prospective basis. The adoption of ASU 2020-06
has not had a material impact on the Company’s consolidated financial statements and disclosures.

Management does not believe that any other recently
issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on our financial statements.

Item 7A. Quantitative and Qualitative Disclosures
About Market Risk.

As of December 31, 2024,
we were not subject to any material market or interest rate risk. Following the consummation of our IPO, the net proceeds of our IPO,
including amounts in the Trust Account, have been invested in U.S. government treasury obligations with a maturity of 185 days or less
or in certain money market funds that invest solely in U.S. treasuries. Due to the short-term nature of these investments, we believe
there will be no associated material exposure to market or interest rate risk.

Item 8. Financial Statements and Supplementary
Data.

The consolidated financial
statements and supplementary data required by this item are included following the signature page of this Annual Report.

Item 9. Changes in and Disagreements With Accountants
on Accounting and Financial Disclosure.

None.

Item 9A. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures are designed
to ensure that information required to be disclosed by us in our Exchange Act reports is recorded, processed, summarized, and reported
within the