Mergers & Acquisitions ·
Exascale Labs completes business combination valued at $500M, begins trading as XLAB on Nasdaq
XLABExascale Labs Holdings Inc.
Exascale Labs Holdings Inc., formerly D. Boral ARC Merger Corporation, completed a business combination with Exascale Labs on August 27, 2026, resulting in the company changing its name and listing Class A Common Stock under the symbol XLAB on Nasdaq. The transaction was accounted for as a reverse recapitalization, with Exascale identified as the accounting acquirer. Upon closing, former securityholders received an aggregate of 19,354,261 PubCo Class A common stock and 30,645,739 PubCo Class B common stock, representing merger consideration valued at $500 million based on a deemed price of $10.00 per share. The company appointed Hoansoo Lee as CEO and Wenying Jia as Chairperson, with Jake Carney later named CFO. Exascale Labs Holdings Inc. operates in the artificial intelligence infrastructure industry, providing GPU-as-a-Service compute capacity and data center solutions.