Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 118

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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-interest bearing unsecured promissory note to the Sponsor, pursuant to which we may borrow up to an aggregate principal amount of
$300,000 (the “Note”). On January 20, 2023, the maximum amount available under the Note was further increased to $400,000.
As of March 31, 2023, both we and the Sponsor mutually agreed to extend the maturity date of the original Note. On November 21, 2023,
the Note was further amended to permit us to pay certain expenses of the Sponsor which would reduce the principal balance of the Note
by the same amount. On March 27, 2024, the maximum amount available under the Note was further amended and increased to $1,090,000. On
June 25, 2024, the maximum amount available under the Note was further amended and increased to $1,780,000. On September 16, 2024, the
maximum amount available under the Note was further amended and increased to $1,980,000. On September 30, 2024, the maximum amount available
under the Note was further amended and increased to $2,280,000. On November 29, 2024, the maximum amount available under the Note was
further amended and increased to $2,780,000. On February 21, 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