Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 123

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 8
Chunk 123
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 significant segment expenses provided to the CODM on a regular basis. 

19

NOTE 10. SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date through the date that the unaudited condensed consolidated financial statements were issued.
Based upon this review, other than stated below, the Company did not identify any subsequent events that have required adjustment or disclosure
in the unaudited condensed consolidated financial statements.

On October 10, 2025, the Sponsor deposited $11,649
into the Company’s Trust Account to extend the Termination Date from September 30, 2025 to October 31, 2025.

On October 22, 2025, $23,950,427, or approximately
$11.70 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 2,046,800 shares of the Company’s
Class A common stock that were redeemed were cancelled.

On October 28, 2025, the Company and the Underwriters
entered into an agreement pursuant to which the parties have agreed that, in lieu of a cash payment, the Company will pay each Underwriter
103,500 shares of common stock of the Company (the “PubCo Shares”) as payment for deferred underwriting commissions (the “Deferred
Fee Agreement”).

In addition, pursuant to an advisory agreement
between the Company and LifeSci entered into on September 23, 2022 (the “Advisory Agreement”), the Company agreed to pay LifeSci
a fee equal to one and one half percent (1.5%) of the total consideration in connection with the initial business combination in the form
of equity interests in the surviving entity. On October 28, 2025, the Company, the Sponsor, and LifeSci entered into an amendment (the
“Amendment”) to the Advisory Agreement pursuant to which LifeSci agreed to waive its advisory fee.

On October 28, 2025, the Company entered into
an advisory agreement (the “LifeSci Advisory Agreement”) with Cybra and LifeSci pursuant to which LifeSci will provide certain
financial advisory and investment banking services to Cyabra. In connection with such engagement, LifeSci will receive a retainer fee
of ordinary shares of Cyabra which will convert into 105,000 PubCo Shares upon the closing of the Business Combination and an advisory
fee of $1,050,000 paid in PubCo Shares 90 days after the