D. Boral ARC Acquisition I, a blank check company led by executives from D. Boral Capital and ARC Group, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
D. Boral ARC Acquisition I is led by CEO and Chairman David Boral, the founder and CEO of global investment bank D. Boral Capital, and CFO and Director John Darwin, a Managing Director at global investment bank and management consultancy ARC Group. While it hasn't selected a target industry or geography, the SPAC plans to focus on businesses with enterprise values of $700 million or greater.
D. Boral ARC Acquisition I plans to list on the Nasdaq under the symbol BCARU. D. Boral Capital acted as sole bookrunner on the deal.
