Company: BCAR
Filing Date: 2025-04-29
Form Type: S-1
Source: 0001829126-25-003006
Chunk: 149

Company: D. Boral ARC Acquisition I Corp.
Filing Date: 2025-04-29
Form: S-1
Chunk 149
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000 Class A ordinary shares if the over-allotment option is exercised in full) and 12,321,429 founder shares (up to 1,607,143 of which are assumed to be forfeited in the scenario in which the over-allotment option is not exercised in full). Such calculations do not reflect any dilution associated with the exercise of warrants as the warrants are accounted for as equity and are only exercisable following the consummation of our initial business combination. The exercise of the warrants would cause the actual dilution to the public shareholders to be higher, particularly where a cashless exercise is utilized. Further, the issuance of additional ordinary or preference shares may significantly dilute the equity interest of public shareholders, which dilution would even further increase if the anti-dilution provisions in the Class B ordinary shares resulted in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the Class B ordinary shares.

The following table illustrates the difference between the public offering price per unit and our NTBV per share, as adjusted to give effect to this offering and assuming redemption of our public shares at varying levels and the full exercise and no exercise of the over-allotment option:

| March 31, 2025                                  |      |     |                |      |     |            |      |     |                |      |     |            |      |     |                |      |     |            |      |     |                 |       |   |     |            |       |
|:------------------------------------------------|-----:|:----|:---------------|-----:|:----|:-----------|-----:|:----|:---------------|-----:|:----|:-----------|-----:|:----|:---------------|-----:|:----|:-----------|-----:|:----|:----------------|:------|:--|:----|:-----------|------:|
| Offering Price of $10.00                        |      |     | 25% of Maximum 
 Redemption     |      |     |            |      |     | 50% of Maximum 
 Redemption     |      |     |            |      |     | 75% of Maximum 
 Redemption     |      |     |            |      |     | 100% of Maximum 
 Redemption      |       |   |     |            |       |
| NTBV                                            |      |     | NTBV           |      |     | Difference 
 between    
 NTBV and   
 Offering   
 Price      |      |