Company: BCAR
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001829126-25-007047
Chunk: 20

Company: D. Boral ARC Acquisition I Corp.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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-Allotment Option, there were 1,200,000 class A ordinary shares issued or outstanding, excluding 25,000,000
         class A ordinary shares subject to possible redemption.
       
      Class B Ordinary shares — The Company is authorized to issue 50,000,000 ordinary shares with a par value
         of $0.0001 per share. Holders of the Company’s ordinary shares are entitled to one vote for each share. On June 30, 2025 and August 1, 2025, there were 12,321,429 ordinary shares issued and outstanding. On March 25, 2025, the Company issued an aggregate of 12,321,429 ordinary shares to the Sponsor
         for an aggregate purchase price of $25,000 in cash, of which 1,607,143 shares held
         by the Sponsor are subject to forfeiture to the extent that the underwriter’s over-allotment option is not exercised in full.

    14

The Class B ordinary shares will automatically
convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination,
or at any time prior thereto at the option of the holder thereof, on a one-for-one basis, subject to adjustment as provided herein. Because
our sponsor acquired the Class B ordinary shares at a nominal price, our public shareholders will incur an immediate and substantial
dilution upon the closing of this offering, assuming no value is ascribed to the warrants included in the units. In the case that additional
Class A ordinary shares, or equity-linked securities (as described herein), are issued or deemed issued in excess of the amounts issued
in this offering and related to the closing of our initial business combination, the ratio at which the Class B ordinary shares will
convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary
shares agree to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class
A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 30% of the sum of (i) the total
number of all Class A ordinary shares outstanding upon the completion of this offering (including any Class A ordinary shares issued
pursuant to the underwriters’ over-allotment option and excluding the Class A ordinary shares that are included within the private
units), plus (ii