SCHEDULE: Glazer Capital Discloses 6.84% Stake in D. Boral ARC

Glazer Capital, LLC and Paul J. Glazer have reported a passive 6.84% beneficial ownership stake in D. Boral ARC Acquisition I Corp. as of September 30, 2025.

Summary

• Glazer Capital, LLC and Paul J. Glazer reported beneficial ownership of 2,050,000 Class A ordinary shares of D. Boral ARC Acquisition I Corp.
• This ownership represents 6.84% of the issuer's Class A ordinary shares.
• The shares are held by certain funds and managed accounts for which Glazer Capital, LLC serves as investment manager.
• Paul J. Glazer, as the Managing Member of Glazer Capital, LLC, is also a reporting person.
• The filing indicates a passive investment intent, stating the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a standard disclosure of beneficial ownership by a passive investor and does not contain information that would significantly alter the sentiment towards the issuer, other than confirming a new significant shareholder.

Positives

• A significant institutional investor, Glazer Capital, has taken a substantial passive stake (6.84%) in D. Boral ARC Acquisition I Corp., potentially signaling confidence in the company's long-term prospects.

Risks

• The reporting persons explicitly state that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, which means they are not expected to advocate for significant strategic or operational changes.

Future Outlook

NA

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a new significant passive investor (Glazer Capital) holding 6.84% of Class A ordinary shares could be viewed positively, indicating institutional interest.
• Management: The passive nature of the investment suggests no immediate pressure for strategic or operational changes from this shareholder.

Next Steps

• The reporting persons will continue to hold their stake in D. Boral ARC Acquisition I Corp. as a passive investment.
• Future filings (e.g., amendments to Schedule 13G or a Schedule 13D if intent changes) would be required if their ownership percentage or investment intent changes.

Key Dates

Keywords

D. Boral ARC Acquisition I Corp., Glazer Capital, Paul J. Glazer, Schedule 13G, Beneficial Ownership, Class A ordinary shares, Investment Management, Passive Investment, SEC Filing