Exascale Labs Holdings Inc. (XLAB) reports completion of its business combination with SPAC D. Boral ARC Acquisition I Corp., redomiciling to Delaware and adopting the name Exascale Labs Holdings Inc. Exascale, a next-generation AI infrastructure provider focused on GPU-as-a-Service and related data-center solutions, becomes the operating business.
On August 27, 2026, Exascale issued or reserved an aggregate 33,689,050 Class A and 30,645,739 Class B Super Common shares as part of the transaction, including 50,000,000 shares as merger consideration valued at $500,000,000 ($10.00 per share). Holders of 26,865,211 BCAR Class A shares redeemed for cash. As of closing, there were 64,334,789 common shares outstanding and 14,099,992 warrants exercisable at $11.50 per share.
The dual-class structure gives Class B 20 votes per share; former Exascale holders own all Class B and the five-person board, with Hoansoo Lee as CEO and interim CFO. An equity incentive plan initially reserves 10,000,000 Class A shares with a 5% annual evergreen. Pro forma combined net losses were $4.15 million for the year ended June 30, 2025 and $3.47 million for the nine months ended March 31, 2026.