Company: BLZRW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110002
Chunk: 41

Company: Trailblazer Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 such event, our Public Shareholders will be provided the opportunity
to have all or a portion of their Public Shares redeemed. Any redemptions will reduce the amount held in our Trust Account, the effect
of which may adversely affect our ability to consummate our initial Business Combination and may also impair our ability to maintain
our Nasdaq listing.

We
anticipate that our securities will be suspended from trading on Nasdaq and delisted if we do not consummate our initial Business Combination
by September 9, 2028. Any trading suspension or delisting could have a material adverse effect on the trading of our securities and may
adversely affect our ability to consummate an initial Business Combination.

Our
IPO Registration Statement was declared effective by the SEC on September 9, 2025, and our securities are currently listed on the Global
Market tier of Nasdaq. Pursuant to our Amended and Restated Articles, we have until September 11, 2027 to consummate our initial Business
Combination.

Under
the Nasdaq Rules, a SPAC’s Nasdaq-listed securities will be immediately suspended from trading if the SPAC does not meet the Nasdaq
36-Month Requirement, and Nasdaq will, at such point, commence delisting procedures. Although a SPAC can request a hearing before the
hearing panel of Nasdaq (the “Hearing Panel”), the scope of the Hearing Panel’s review is limited. If a SPAC completes
a Business Combination after receiving a delisting determination by the staff of the Listing Qualifications Department of Nasdaq (a “Staff
Delisting Determination”) and/or demonstrates compliance with all applicable initial listing requirements, the combined company
can apply to list its securities on Nasdaq pursuant to the normal application review process. The Nasdaq Rules contain a list of deficiencies
that would immediately result in a Staff Delisting Determination, which includes noncompliance with the Nasdaq 36-Month Requirement.

Accordingly,
were we to amend our Amended and Restated Articles to extend the date by which we are permitted to consummate our initial Business Combination,
we would still need to consummate our initial Business Combination on or prior to September 9, 2028 in order to avoid a suspension of
our securities from trading on and delisting from Nasdaq. If Nasdaq were to suspend our securities from trading and delist our securities,
our securities could potentially be quoted on an over-the-counter market. Even if our securities are