Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 153

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 153
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, 2025, the maximum amount available under the Note was further amended and
increased to $3,530,000.

On March 24, 2025, the Note
was amended and restated in its entirety, in order to provide, among other things, (1) that the maturity date of the Note is May 31, 2025;
provided, however, that if Trailblazer completes an initial business combination, the Note shall be extended for an additional eighteen
(18) months from the closing of the initial business combination, (2) for certain post-business combination transaction participation
rights for the Sponsor as well as most favored nation rights for the Sponsor with respect to certain post business combination transactions
and (3) for equal monthly payments of $125,000 due commencing on the first business day of the calendar month following the month in which
Trailblazer closes its initial business combination. On May 29, 2025, the Note was further amended, pursuant to which (i) the maximum
amount available to borrow under the Note was further increased by an additional $500,000 to $4,030,000 and (ii) the maturity date of
the Note was amended to be the earlier of July 30, 2025 or the closing of the Company’s initial business combination. As of June
30, 2025 and December 31, 2024, there was $3,741,731 and $2,529,445, respectively, outstanding under the Promissory Note.

On July 29, 2025, the Company
entered into a second amended and restated promissory note with the Sponsor, pursuant to which (i) the maturity date of the Note was amended
to be the later of September 15, 2025 or the closing of the Company’s initial business combination and (ii) the outstanding principal
balance of the Note will be converted into preferred stock of the Corporation at the closing of the initial business Combination.

Registration and Stockholder’s Rights

Pursuant to a registration
rights agreement entered into on March 28, 2023, the holders of the founder shares, Placement Units and any unit that may be issued
upon conversion of the Working Capital Loans (and any underlying shares of Class A common stock) are entitled to registration rights pursuant
to a registration rights agreement requiring the Company to register such securities for resale (in the case of the founder shares, only
after conversion to shares of our Class