Quarterly ResultMay 14, 2026, 06:12 AM
JACS Q1 Net Income $1.97M; Trust Account $244.68M
AI Summary
Jackson Acquisition Co II reported a net income of $1.97 million for the three months ended March 31, 2026, a decrease from $2.23 million in the prior year. The company's Trust Account held $244.68 million, while total shareholders' equity significantly decreased to $52,478. The company also disclosed substantial doubt about its ability to continue as a going concern if it fails to complete a business combination by December 11, 2026.
Key Highlights
- Net income for Q1 2026 was $1,969,083, down from $2,227,401 in Q1 2025.
- Marketable securities in Trust Account totaled $244,680,543 as of March 31, 2026.
- Cash balance was $393,467 as of March 31, 2026, down from $521,776 at Dec 31, 2025.
- Total Shareholders' Equity decreased to $52,478 from $220,750 at December 31, 2025.
- Basic and diluted net income per share was $0.07 for Q1 2026, down from $0.08 in Q1 2025.
- The company faces mandatory liquidation if a Business Combination is not completed by December 11, 2026.
- Management identified substantial doubt about the company's ability to continue as a going concern.