D. Boral ARC Acquisition I Corp. (BCAR) is a SPAC formed to complete a business combination. It raised $250,000,000 in its IPO on August 1, 2025 and a further $30,000,000 from a partial over-allotment, selling 28,000,000 units at $10.00 each. As of December 31, 2025, about $284,776,628 was held in a trust account and $420,340 in cash was available outside the trust, producing net income of $4,455,970 mainly from interest.
On January 11, 2026, BCAR agreed to merge with Exascale Labs Inc. via a Delaware reincorporation and subsequent merger, with aggregate merger consideration of $500,000,000 payable in 50,000,000 PubCo shares valued at $10.00 each, plus PubCo shares for Exascale SAFE holders. Public shareholders will have redemption rights at approximately $10.00 per share in connection with the initial business combination, subject to cash conditions.
The company has until 18 months after the IPO, with one three‑month extension at the sponsor’s option and potential further shareholder‑approved extensions, to close a business combination or redeem all public shares. Its auditor included a going concern explanatory paragraph, noting limited working capital of $585,863 as of December 31, 2025 and uncertainty that a deal or additional financing will be completed in time.
Sculptor Capital and affiliated investment entities report a passive ownership stake in D Boral ARC Acquisition I Corp. They beneficially own 750,000 Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant, representing 2.57% of the class.
The shares are held across various managed accounts and funds, with Sculptor and Sculptor Capital II acting as investment managers and related holding companies deemed beneficial owners through control relationships. The group reports only shared voting and dispositive power and certifies the holdings are not intended to change or influence control of the company.
Barclays PLC filed an amended Schedule 13G stating that it no longer beneficially owns any common stock of D. BORAL ARC ACQUISIT - CL A (symbol BCAR). Barclays reports aggregate beneficial ownership of 0 shares, representing 0.00% of the outstanding common stock.
The filing confirms that Barclays now owns 5 percent or less of this class and that any securities were acquired and are held in the ordinary course of business, without the purpose or effect of changing or influencing control of the issuer.
Meteora Capital, LLC and its managing member Vik Mittal filed Amendment No. 1 to a Schedule 13G reporting their holdings in D. Boral ARC Acquisition I Corp. Class A common stock. They report beneficial ownership of 728,190 shares, representing 2.49% of the class.
The filing states that all voting and dispositive power over these shares is shared, with no sole authority reported. The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Meteora Capital, LLC and its managing member Vik Mittal filed a Schedule 13G reporting beneficial ownership of 1,928,291 shares of D. Boral ARC Acquisition I Corp. Class A common stock, representing 6.6037% of the class as of the event date.
The reported shares are held through funds and managed accounts advised by Meteora Capital, with shared voting and dispositive power over all 1,928,291 shares and no sole power. The filers state the position was acquired and is held in the ordinary course of business and not for the purpose of changing or influencing control of the company.
Linden Advisors and related entities have disclosed a new significant stake in D. Boral ARC Acquisition I Corp. As of January 21, 2026, Linden Advisors LP and its principal, Siu Min (Joe) Wong, may be deemed to beneficially own 1,600,000 Class A ordinary shares of the company, representing approximately 5.5% of the outstanding class. This includes 1,538,033 shares held by Linden Capital L.P. and 61,967 shares held in separately managed accounts.
Linden GP LLC and Linden Capital each may be deemed to beneficially own the 1,538,033 shares held by Linden Capital, representing about 5.3% of the class. All reporting persons report shared, and no sole, voting and dispositive power over these shares, and certify that the holdings are not for the purpose of changing or influencing control of the issuer.
D. Boral ARC Acquisition I Corp. has a new large shareholder disclosure. A group of related Harraden Circle investment entities and individual investor Frederick V. Fortmiller, Jr. report beneficial ownership of 2,900,000 shares of Class A common stock, representing 9.93% of the class as of the reported date.
The shares are directly held across several Delaware limited partnerships, including Harraden Circle Investors, LP, Harraden Circle Special Opportunities, LP, Harraden Circle Strategic Investments, LP, and Harraden Circle Concentrated, LP. Their general partner (Harraden Circle Investors GP, LP), its general partner (Harraden Circle Investors GP, LLC), and the investment manager Harraden Circle Investments, LLC, as well as Mr. Fortmiller, may be deemed to indirectly beneficially own these shares through their control roles.
The filing states that the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer, and are not held in connection with any such transaction, other than activities solely in connection with a nomination under the specified proxy rule.