Company: BCAR
Filing Date: 2025-04-29
Form Type: S-1
Source: 0001829126-25-003006
Chunk: 116

Company: D. Boral ARC Acquisition I Corp.
Filing Date: 2025-04-29
Form: S-1
Chunk 116
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 to as “covered securities.” Because we expect that our units and eventually our Class A ordinary shares and warrants will be listed on Nasdaq, our units, Class A ordinary shares and warrants will qualify as covered securities under the statute. Although the states are preempted from regulating the sale of our securities, the federal statute does allow the states to investigate companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the sale of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or restrict the sale of securities issued by blank check companies, other than the State of Idaho, certain state securities regulators view blank check companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities of blank check companies in their states. Further, if we were no longer listed on Nasdaq, our securities would not qualify as covered securities under the statute and we would be subject to regulation in each state in which we offer our securities.

In the event that New ARC fails to satisfy any of the listing requirements of Nasdaq or the NYSE, they may reject our listing application, and the parties may waive any closing condition in the initial business combination agreement that ordinary shares of New ARC be listed on Nasdaq or the NYSE at the closing of the initial business combination.

Following our initial business
combination, we expect that the ordinary shares and public warrants of New ARC will be listed on either Nasdaq or the New York Stock
Exchange (“NYSE”). To list these securities on Nasdaq or the NYSE, New ARC will be required to comply with initial listing
requirements, including the minimum market capitalization standard, the corporate governance requirements and the minimum closing bid
price requirement, among other requirements. In the event that New ARC fails to satisfy any of the listing requirements, Nasdaq or NYSE
may reject New ARC’s listing application. Though the listing of New ARC’s ordinary shares on either Nasdaq or NYSE is expected
to be a condition to the closing of our initial business combination, the parties may waive such closing condition and proceed to close,
in which case the New ARC’s ordinary shares will likely instead be quoted on the OTC Markets. If the New ARC’s ordinary shares
are not listed on Nasdaq or NYSE, it is likely to be more difficult to trade in or obtain accurate quotations as to the market price
of the New ARC’s ordinary shares. As a result,