Exascale Labs to merge with SPAC BCAR at $500M pre-money; FY25 rev $7M up 5.3x

D. Boral ARC Acquisition I Corp.

Exascale pre-money valuation $500M; pro forma enterprise value $632M; SPAC trust has $280M cash.
Exascale securityholders roll over 100% equity; expected 54.8% pro forma ownership (0% redemptions).
FY2025 GAAP revenue $7.0M (vs $1.3M FY2024); 22 enterprise customers; 92% retention; $300K avg revenue.
$300M qualified pipeline; 500 MW aggregate AIDC deployment size across active opportunities.
Minimum $5M cash financing condition not yet satisfied; no PIPE assumed in base case.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.