Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 113

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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Sci”), further amended in March 2023,
upon the consummation of the initial business combination, we have agreed to pay LifeSci equal to one and one half (1.5%) percent of
the total consideration paid in connection with the initial business combination in the form of equity interests in the entity that survives
any such business combination in exchange for the provision by the underwriters of certain services relating to the initial business
combination.

For
the purposes of this section, “total consideration” means the total market value of, without duplication, all cash, securities,
or other property paid or transferred at the closing of such transaction by the target’s stockholders or to be paid or transferred
in the future to the target’s stockholders with respect to such transaction (other than payments of interest or dividends and any
contingent or earnout consideration based upon future performance of the combined companies, however characterized), including, without
limitation, to the extent applicable, any net value paid in respect of (i) the assets of the target and (ii) the capital stock
of the target (and the spread value of any “in the money” securities convertible into options, warrants or other rights to
acquire such capital stock), after giving effect to the assumption, retirement or defeasance, directly or indirectly (by operation of
law or otherwise), of any long-term liabilities of the target or repayment of indebtedness, including, without limitation, indebtedness
secured by the assets of the target, capital leases or preferred stock obligations; provided, that for the avoidance of doubt, any funds
in the trust account (as may be applicable in the case of a Transaction) or financing proceeds raised in connection with the closing
of the transaction (including by way of an offering, the compensation to underwriters for which is provided for below), in either case,
that are not paid to the target’s stockholders as consideration in the transaction will not be included as part of the Total Consideration.

For
purposes of this section, the market value of any publicly traded common stock, whether already outstanding or newly-issued, will be
equal to the greater of: (i) the value of such common stock issued to the target upon the closing of a transaction at a price equal
to $10.00 per share; and (ii) the dollar volume-weighted average price (VWAP) for such security on the principal securities exchange
or securities market on which such security is then traded