BCARW

D. Boral ARC Acquisition I Corp. Warrants represent the right to purchase shares of D. Boral ARC Acquisition I Corp. common stock at a predetermined exercise price, typically $11.50 per share. These warrants were issued as part of the SPAC's initial public offering, either bundled in units or as part of the sponsor's founder shares. Warrants provide investors with leveraged exposure to the potential success of the business combination that the SPAC will pursue. They become valuable if the post-combination stock price exceeds the exercise price. The warrants typically become exercisable upon completion of the SPAC's business combination with a target company and have an expiration date, usually five years from the completion of the business combination or earlier under certain circumstances (such as if the stock price reaches specified levels for a sustained period). Unlike the common stock, warrants do not provide voting rights or redemption rights prior to the business combination. However, they offer the potential for amplified returns compared to holding the common stock if the combined company's stock appreciates significantly. These warrants appeal to investors seeking higher-risk, higher-reward exposure to the SPAC's ultimate business combination. The warrant price reflects both intrinsic value (the extent to which the stock price exceeds the exercise price) and time value (the remaining time until expiration and the volatility of the underlying stock). D. Boral ARC Acquisition I Corp. is seeking to identify and complete a business combination with an operating company, and the ultimate value of these warrants will depend on the quality of that combination and the subsequent stock performance.