Exascale Labs Holdings Inc. has completed a business combination with D. Boral ARC Merger Corporation, a blank check company, according to a Form 8-K filed with the SEC on August 27, 2026. The transaction, originally agreed upon on January 11, 2026, was approved by the shareholders of D. Boral ARC Acquisition I Corp. (BCAR) at an extraordinary general meeting held on July 29, 2026.

The combination was executed in two steps. First, BCAR redomiciled from the British Virgin Islands to Delaware, continuing as PubCo and changing its name to Exascale Labs Holdings Inc. Following this domestication, Merger Sub merged with and into Exascale Labs Inc., with Exascale surviving as a wholly-owned subsidiary of the newly named company.

Upon closing, the aggregate merger consideration was valued at $500,000,000, consisting of 50,000,000 newly issued shares of PubCo Class A Common Stock, valued at $10.00 per share. These shares were distributed to Exascale securityholders based on their respective implied ownership percentages. This included the conversion of outstanding Simple Agreements for Future Equity (SAFEs), which collectively entitled holders to receive 8,864,761 shares representing an aggregate implied ownership percentage of 17.730%.

As of the closing date, Exascale Labs Holdings Inc. had approximately 64,334,789 shares of common stock issued and outstanding, comprised of 33,689,050 shares of Class A Common Stock and 30,645,739 shares of Class B Super Common Stock. Additionally, the company had 14,099,992 warrants outstanding, each exercisable for one share of Class A Common Stock at a price of $11.50.

Exascale Labs Inc. is described as a next-generation AI infrastructure provider operating an asset-light, software-defined GPU compute platform. The company provides GPU as a Service (GaaS) and related AI infrastructure solutions. As of the filing date, Exascale had not yet generated revenue from its modular data center, high-density liquid cooling, HVDC power, and energy storage solutions.

In connection with the merger, the company entered into lock-up agreements with former stockholders and SAFEholders, restricting the sale of shares for a period ending six months after the closing or upon the completion of a liquidation event. The company also entered into indemnification agreements with its directors and executive officers.