Company: JACS-RI
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001013762-25-000620
Chunk: 154

Company: Jackson Acquisition Co II
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 154
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910 
  
    Class A ordinary shares subject to possible redemption, December 31, 2024 
     23,000,000  
    $232,858,478 

Net Income Per Ordinary Share

The Company complies with accounting and disclosure
requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of ordinary shares, which are referred
to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of ordinary shares.
This presentation assumes a Business Combination as the most likely outcome. Net income per ordinary share is calculated by dividing the
net income by the weighted average ordinary shares outstanding for the respective period.

The calculation of diluted net income per ordinary
share does not consider the effect of the rights issued in connection with the Initial Public Offering and the Private Placement to receive
one tenth (1/10) of one Class A ordinary share upon the consummation of an initial Business Combination in the calculation of diluted
income per ordinary share, because their exercise is contingent upon future events. As a result, diluted net income per ordinary share
is the same as basic net income per ordinary share for the year ended December 31, 2024. Accretion associated with the redeemable Class
A ordinary shares is excluded from earnings per ordinary share as the redemption value approximates fair value.

The Company has considered the effect of Class
B ordinary shares that were excluded from weighted average number as they were contingent on the exercise of over-allotment option by
the underwriters. Since the contingency was satisfied, the Company included these shares in the weighted average number as of the beginning
of the interim period to determine the dilutive impact of these shares.

F-12

The following tables present a reconciliation
of the numerator and denominator used to compute basic and diluted net income per ordinary share for each class of ordinary shares:

    For the Period Ended
 September 11, 
2024 
(Inception) 
Through December 31,
 2024 

    Class A  
    Class B 
  
    Basic net income per share of ordinary share: 

    Numerator: 

    Allocation of net income 
    $171,861  
    $209,221 
  
    Denominator: 

    Weighted-average shares outstanding 
     4,144,144  
     5,045,045 
  
    Basic net income per ordinary share