Company: BCAR
Filing Date: 2025-04-29
Form Type: S-1
Source: 0001829126-25-003006
Chunk: 119

Company: D. Boral ARC Acquisition I Corp.
Filing Date: 2025-04-29
Form: S-1
Chunk 119
---
) |     | $ |        6.57 |

| (1) | While the public shareholders’ investment is in both the public shares and the public warrants, for purposes of this table the full investment amount is ascribed to the public shares only.                                                                                                                                                                     |
| (2) | The total investment in the equity of the company by the sponsor is $2,025,000, consisting of (i) $25,000 paid by the sponsor for the founder shares, (ii) $2,000,000 paid by the sponsor for 200,000 private units. For purposes of this table, the full investment amount is ascribed to the founder shares only.                                              |
| (3) | Initial implied value per public share is defined as the funds available for the initial business combination (assuming the underwriters’ over-allotment option is not exercised and following payment of the underwriters’ deferred fee) divided by the public shares issued of 25,000,000 (assuming the underwriters’ over-allotment option is not exercised). |
| (4) | All founder shares would automatically convert into Class A ordinary shares upon completion of our initial business combination or earlier at the option of the holder.                                                                                                                                                                                          |

Based on these assumptions, each Class A ordinary
share would have an implied value of $6.57 per share upon completion of our initial business combination, representing an approximately
31.9% decrease from the initial implied value of $9.65 per public share. While the implied value of $6.57 per Class A ordinary share
upon completion of our initial business combination would represent a dilution to our public shareholders, this would represent a significant
increase in value for our sponsor relative to the price it paid for each founder share. At $10.00 per Class A ordinary share, the 10,714,286
Class A ordinary shares that the sponsor would own upon completion of our initial business combination (after automatic conversion of
the 10,714,286 founder shares) would have an aggregate implied value of $107,142,860. As a result, even if the trading price of our Class
A ordinary share significantly declines, the value of the founder shares held by our sponsor will be significantly greater than the amount
our sponsor paid to purchase such shares. In addition, our sponsor could potentially recoup its entire investment in our company even
if the trading price of our Class A ordinary shares after the initial business combination is as low as $0.19 per share