D. Boral Acquisition I Corp. (DBCAW) Warrant
Each DBCAW warrant gives the holder the right to buy 1 share of D. Boral Acquisition I Corp. at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.02, below the strike, so the warrant is out of the money. D. Boral Acquisition I Corp. has a market value of about $433.58M. D. Boral Acquisition I Corp. is a SPAC (deal signed with Exascale Labs Inc.). It must complete a deal by August 12, 2027 or the warrants expire worthless. There are 14.47M listed warrants; exercising all of them would add 33.5% to the 43.27M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- no
- Break-even stock price
- $11.85
From the issuer's S-1/A (2026-01-26).
Company and stock
- Company
- D. Boral Acquisition I Corp.
- Underlying stock
- DBCA
- Share price
- $10.02
- Market cap
- $433.58M
- Shares outstanding
- 43.27M
- Range since Feb 2026
- $9.83 – $10.08
- Change since Feb 2026
- +2%
- Value of all listed warrants
- $5.07M (1.2% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- New York, NY
- Incorporated in
- Virgin Islands, British
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.3500
- Price / model
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Dilution
- Shares outstanding
- 43.27M
- Listed warrants
- 14.47M
- Dilution if all exercised
- 33.5%
Warrant count from filing iXBRL: WarrantMember (single series tagged).
SPAC deal
- Status
- deal signed
- Target
- Exascale Labs Inc.
- Deal announced
- 2026-01-11
- Deadline
- 2027-08-12
- Latest possible deadline
- 2027-11-12
- Trust per share
- $10.20
- Sponsor
- D. Boral Sponsor I LLC
- Sponsor's earlier SPACs
- 1 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about DBCAW
When does the DBCAW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of DBCAW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many DBCAW warrants are outstanding?
14.47M listed warrants, equal to 33.5% dilution if all are exercised.
Related warrants
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