JENA.R

Jena Acquisition Corp. II Rights are derivative securities that provide holders the right to purchase additional Class A common shares at a predetermined price upon consummation of the SPAC's initial business combination. Each right typically entitles the holder to receive a fractional share of common stock following the merger closing. Rights are often bundled with common shares or units in SPAC initial public offerings and may trade separately once the securities are unbundled. These instruments provide additional equity participation upside but do not represent direct ownership in the SPAC until exercised.