[SCHEDULE 13G] Jackson Acquisition Company II SEC Filing
Rhea-AI Filing Summary
Meteora Capital, LLC reported beneficial ownership of 1,217,614 Class A ordinary shares of Jackson Acquisition Co II, representing 5.11% of the outstanding class. The filing states Meteora holds these shares through funds and managed accounts for which it serves as investment manager, and reports shared voting and shared dispositive power over the position, with no sole voting or dispositive power.
The statement includes a certification that the shares were acquired and are held in the ordinary course of business and not with the purpose of changing or influencing control of the issuer. The filing identifies Vik Mittal as the managing member of Meteora Capital and classifies Meteora as an investment adviser.
Positive
- Material disclosure: Reporting Person holds 1,217,614 shares (5.11%), exceeding the 5% threshold that triggers public reporting.
- Transparency on authority: The filing clearly states shared voting and shared dispositive power, clarifying the nature of control over the position.
- Certification of ordinary-course holdings: The filer certifies the shares were acquired and are held in the ordinary course of business and not to influence control.
Negative
- No sole control: The Reporting Person reports 0 sole voting and 0 sole dispositive power, limiting unilateral governance influence.
- Limited detail on underlying accounts: The filing refers to funds and managed accounts but does not identify the specific funds or allocations holding the shares.
Insights
TL;DR: A 5.11% stake signals a meaningful passive investment by an adviser but shows no intent to exert control.
Meteora Capital's disclosed 1,217,614-share position crosses the 5% reporting threshold, which is material and requires public disclosure. The position is held via funds and managed accounts managed by Meteora, and the firm reports only shared voting and dispositive power, implying collective decision-making rather than sole control. The certification that shares are held in the ordinary course and not for control reduces the likelihood of imminent activist action, but the stake is large enough to attract investor attention.
TL;DR: Governance impact appears limited: shared authority and an explicit non-control certification.
The filing documents a material equity position above 5% but shows no sole voting or disposition rights, which constrains direct governance influence. The filer identifies holdings as belonging to multiple funds and accounts without naming them, so shareholder coordination or specific intentions are not disclosed. The explicit certification that holdings are not intended to change or influence issuer control further frames this as a passive, reportable stake rather than an activist move.