Exascale Labs completes $500M SPAC merger; begins trading as XLAB on Nasdaq

D. Boral ARC Merger Corp

Closed $500M business combination with D. Boral ARC; issued 33.7M Class A and 30.6M Class B shares at $10.00 deemed value.
26,865,211 BCAR Class A shares redeemed for cash; 14,099,992 warrants outstanding at $11.50 exercise price.
Hoansoo Lee named CEO and Interim CFO; Wenying Jia Chairperson; five-member board appointed.
Former Exascale holders and SAFEholders subject to 6-month lock-up; trust and admin agreements terminated.
Audited financials include going concern qualification; company cites limited operating history and losses.

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