The reaction of the pentaphenylborole [(PhC)4BPh] (1) with sodium phosphaethynolate·1,4-dioxane (NaOCP(1,4-dioxane)1.7) afforded the novel sodium salt of phosphaboraheterocycle 2. It comprises anionic fused tetracyclic P/B-heterocycles that arise from multiple bond activation between the borole backbone and [OCP]−anion. Density functional theory calculations indicate that the [OCP]− anion prefers the form of phosphaethynolate -O-CP over phosphaketenide OCP- to interact with two molecules of 1, along with various B-C, C-P, and C-C bond activations to form 2. The calculations were verified by experimental studies: (i) the reaction of 1 with NaOCP(1,4-dioxane)1.7 and a Lewis base such as the N-heterocyclic carbene IAr [:C{N(Ar)CH}2] (Ar = 2,6-iPr2C6H3) and amidinato amidosilylene [{PhC(NtBu)2}(Me2N)Si:] afforded the Lewis base-pentaphenylborole adducts [(PhC)4B(Ph)(LB)] (LB = IAr (3), :Si(NMe2){(NtBu)2CPh} (4)), respectively; (ii) the reaction of 1 with the carbodiimide ArNCNAr afforded the seven-membered B/N heterocycle [B(Ph) (CPh)4C(NAr)N(Ar)] (5). Compounds 2-5 were fully characterized by NMR spectroscopy and X-ray crystallography. © 2017 American Chemical Society.