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Jackson Acquisition Company II Class A (JACS+0.10%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The company is a blank check company incorporated in the Cayman Islands on September 11, 2024, with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
On December 11, 2024, Jackson Acquisition Company II completed its initial public offering of 23,000,000 units at $10.00 per unit, generating gross proceeds of $230,000,000. Simultaneously, the company completed a private placement of 840,000 units, generating gross proceeds of $8,400,000.
The net proceeds from the IPO and private placement, totaling $232,300,000, were placed in a trust account. These funds will be used to complete a business combination within 24 months from the IPO closing date.
The company reported a net income of $381,082 for the period from inception to December 31, 2024, primarily due to interest income earned on investments held in the trust account.
As of December 31, 2024, Jackson Acquisition Company II had $949,366 in cash and $232,858,478 in investments held in the trust account.
The company has not selected any target business for its initial business combination and intends to focus on the healthcare industry.
The filing outlines the company's business strategy, which includes leveraging management's experience in healthcare services and technology to identify high-quality businesses for acquisition.
Jackson Acquisition Company II is classified as an emerging growth company and a smaller reporting company, which allows it to take advantage of certain exemptions from reporting requirements.
If the company does not complete a business combination by December 11, 2026, it will redeem all public shares and liquidate the trust account.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Jackson Acquisition Company II Class A annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.