D. Boral ARC Acquisition I Corp-A 2025年度报告

Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Exchange Act. Indicate by check mark whether the registrant (1) has filed all reports required by Section13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Accelerated filerSmaller reporting companyEmerging Growth Company Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act. Yes Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered If securities are registered pursuant to Section12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☒No☐ As of June30, 2025, the aggregate market value of the registrant’s ordinary shares held by non-affiliates of the registrant was $0. As of March13, 2026, there were 29,200,000 Class A ordinary shares, par value $0.0001 per share, and 12,000,000 Class B ordinaryshares, par value $0.0001 per share, of the registrant issued and outstanding. DOCUMENTS INCORPORATED BY REFERENCE None. Annual Report on Form 10-K for the Year Ended December31, 2025 CERTAIN TERMS References to “the Company,” “BCAR,” “our,” “us” or “we” refer to D. Boral ARC Acquisition I Corp., a blank check companyincorporated in the Cayman Islands on March20, 2025. References to our “Sponsor” or “sponsor” refer to MFH 1, LLC, a Delawarelimited liability company. References to our “IPO” or “Initial Public Offering” refer to the initial public offering of D. Boral ARCAcquisition I Corp., which closed on August1, 2025. References to “Business Combination” or “business combination” refer to a SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this “Annual Report” or this “report”) contains forward-looking statements within the meaning ofSection27A of the Securities Act of 1933, or the Securities Act, and Section21E of the Securities Exchange Act of 1934, or theExchange Act. The statements contained in this report that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to, statements regarding our or our management’s expectations, hopes, beliefs,intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations offuture events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipates,” ●ability to complete our initial business combination; ●success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initialbusiness combination; ●officers and directors allocating their time to other businesses and potentially having conflicts of interest with our business orin approving our initial business combination, as a result of which they would then receive expense reimbursements; ●potential ability to obtain additional financing to complete our initial business combination; ●pool of prospective target businesses; ●the ability of our officers and directors to generate a number of potential investment opportunities;●potential change in control if we acquire one or more target businesses for stock; ●the potential liquidity and trading of our securities; ●the lack of a market for our securities; ●use of proceeds not held in the trust account or available to us from interest income on the trust account balance; or ●financial pe