Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 98

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 control of us by diluting the stock ownership or voting rights of a person
    seeking to obtain control of us; and

    ●
    may
    adversely affect prevailing market prices for our common stock, rights and/or warrants.

20

Similarly,
if we issue debt securities or otherwise incur significant debt, it could result in:

    ●
    default
    and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt
    obligations;

    ●
    acceleration
    of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants
    that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;

    ●
    our
    immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand;

    ●
    our
    inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such
    financing while the debt security is outstanding;

    ●
    using
    a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends
    on our common stock if declared, our ability to pay expenses, make capital expenditures and acquisitions, and fund other general
    corporate purposes;

    ●
    limitations
    on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;

    ●
    increased
    vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation;

    ●
    limitations
    on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, and execution
    of our strategy; and

    ●
    other
    purposes and other disadvantages compared to our competitors who have less debt.

We
expect to continue to incur significant costs in the pursuit of our initial business combination plans. We cannot assure you that our
plans to raise capital or to complete our initial business combination will be successful.

Recent
Developments

Business
Combination

On
July 22, 2024, Trailblazer entered into a merger agreement, by and among Trailblazer, Trailblazer Merger Sub, Ltd., an Israeli company
and a direct, wholly owned subsidiary of Trailblazer (“Merger Sub”), Trailblazer Holdings, Inc., a Delaware corporation and
a direct,