Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 41

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 automatic extension of the time the Company
has to complete a business combination by an additional three months from March 31, 2024 to June 30, 2024. On June 25, 2024, the board
of directors approved the exercise by the Company of the automatic extension of the time the Company has to complete a business combination
by an additional three months from June 30, 2024 to September 30, 2024. Pursuant to the terms of the Company’s Amended and Restated
Certificate of Incorporation and the trust agreement entered into between the Company and Continental Stock Transfer & Trust Company
in connection with the Initial Public Offering, in order for the time available for the Company to consummate a Business Combination
to be extended, the Sponsor or its affiliates or designees, upon five days’ advance notice prior to the applicable deadline, must
deposit into the trust account $690,000 in full, (or $0.10 per share) for each extension, on or prior to the date of the applicable deadline.

Through
March 31, 2025, the Sponsor deposited a total of $1,879,719 into the Company’s Trust Account in order to extend the date by which
the Company has to consummate a business combination from March 31, 2024 to March 31, 2025.

22

On
April 1, 2025, the Sponsor deposited $83,287 into the Company’s Trust Account to extend the Termination Date from March 31, 2025
to April 30, 2025. On May 2, 2025, the Sponsor deposited $83,287 into the Company’s Trust Account to extend the Termination Date
from April 30, 2025 to May 31, 2025.

The
Extension Payment was loaned as a draw down pursuant to a non-interest bearing unsecured promissory note the Company issued to the Sponsor
on May 17, 2022, pursuant to which the Company was able borrow up to an aggregate principal amount of $300,000 (the “Note”).
On January 20, 2023, the maximum amount available under the Note was amended and increased to $400,000. As of March 31, 2023,
both the Company and the Sponsor mutually agreed to extend the maturity date of the original Note. On March 27, 2024, the maximum
amount available under the Note was,