Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 67

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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 for the Company’s Initial Public Offering was declared effective on March 28, 2023. On March 31,
2023, the Company consummated the Initial Public Offering of 6,900,000 units (the “Units” and, with respect to the shares
of Class A common stock included in the Units being offered, the “Public Shares”), which includes the full exercise
by the underwriters of their over-allotment option in the amount of 900,000 Units, at $10.00 per Unit, generating gross proceeds of $69,000,000
which is described in Note 3.

Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of 394,500 units (the “Placement Units”)
at a price of $10.00 per Placement Unit, in a private placement to Trailblazer Sponsor Group, LLC (the “Sponsor”), generating
gross proceeds of $3,945,000, which is described in Note 4.

Transaction
costs amounted to $3,971,262 consisting of $1,035,000 of cash underwriting discount, $2,070,000 of deferred underwriting fees, and $866,262
of other offering costs. The allocated value of transaction costs to Class A common stock amounted to $89,233.

Following
the closing of the Initial Public Offering on March 31, 2023, an amount of $70,380,000 ($10.20 per Unit) from the net proceeds of
the sale of the Units in the Initial Public Offering and the sale of the Placement Units was placed in a trust account (the “Trust
Account”) and invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company
Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less, or in any open-ended investment
company that holds itself out as a money market fund meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined
by the Company, until the earlier of: (i) the completion of a Business Combination or (ii) the distribution of the funds in
the Trust Account to the Company’s stockholders, as described below.

The
Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering
and the sale of