Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 115

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 115
---

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. 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.

As approved by its stockholders
at the Annual Meeting of stockholders held on September 26, 2024, the Company filed an amendment to its Charter with the Delaware Secretary
of State on September 27, 2024, and also amended its investment management trust agreement, to (a) modify the terms and extend the date
by which the Company has to consummate a business combination by allowing the Company, through resolution of the board of directors without
another stockholder vote, to elect to extend the Termination Date by one month each time from September 30, 2024 to September 30, 2025,
or such earlier date as determined by the Board in its sole discretion, unless the closing of a business combination shall have occurred
prior thereto; and (b) to remove the provision which permitted the withdrawal of $100,000 from the trust account of the Company in order
to pay dissolution expenses. For each monthly extension approved by the Board, the monthly payment required to be deposited into the Company’s
Trust Account to extend the Termination Date by one month should be the lesser of (i) $0.035 for each outstanding share of Public Stock
after giving effect to the redemption, and (ii) $100,000.

In connection with the stockholders’
vote at the Annual Meeting