Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 84

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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 of segment profit or loss in assessing segment
performance and deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently required
by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures
required by the amendments in this ASU and existing segment disclosures in Topic 280. This ASU is effective
for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early
adoption permitted. The Company adopted ASU 2023-07 beginning January 1, 2024. The adoption of ASU 2023-07 did not have a material effect
on the Company’s financial statements.

Management
does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect
on the Company’s condensed consolidated financial statements.

NOTE 3.
INITIAL PUBLIC OFFERING

Pursuant
to the Initial Public Offering, the Company sold 6,900,000 Units, which includes the full exercise by the underwriters of their over-allotment
option in the amount of 900,000 Units, at a purchase price of $10.00 per Unit. Each Unit consists of one share of the Company’s
Class A common stock and one right to receive one-tenth (1/10) of a share of Class A common stock.

NOTE 4.
PRIVATE PLACEMENT

Simultaneously
with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 394,500 Placement Units at a price of $10.00 per
Placement Unit, for an aggregate purchase price of $3,945,000 in a private placement. A portion of the proceeds from the Placement Units
was added to the proceeds from the Initial Public Offering held in the Trust Account so that the Trust Account holds $10.20 per unit
sold. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Placement
Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Placement Units
will expire worthless.

NOTE 5.
RELATED PARTY TRANSACTIONS

Founder
Shares

On
May 17, 2022, the Sponsor purchased 1,940,625 shares (the “Founder Shares”) of the Company’s Class B common