BCARU

D. Boral ARC Acquisition I Corp. Units consist of one share of common stock and a fraction of one redeemable warrant. These units were issued in the SPAC's initial public offering and represent a packaged security combining equity ownership with warrant coverage. The unit structure is common in SPAC offerings, providing investors with base equity exposure plus additional upside potential through the warrant component. After a specified period following the IPO, units typically separate into their constituent parts, with the common stock and warrants trading independently. Each unit includes one share of D. Boral ARC Acquisition I Corp. Class A common stock plus a fractional warrant (the exact fraction specified in the offering documents). The common stock component provides voting rights and the ability to redeem for cash from the trust account if shareholders disagree with the proposed business combination. The warrant component gives holders the right to purchase additional common stock at a predetermined exercise price (typically $11.50 per share) following the completion of a business combination. Units offer investors a convenient way to gain exposure to the SPAC with both equity and warrant components in a single security. Once units separate, investors can trade the common stock and warrants independently based on their investment preferences and views on the company's prospects. The value of units depends on both the common stock value (which is initially linked to the trust account value plus any premium or discount) and the warrant value (which reflects the time value and the probability of a successful business combination that results in a stock price above the warrant exercise price).