Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 28

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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NOTE 6.  COMMITMENTS AND CONTINGENCIES

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 A common stock). The holders of these securities will be entitled to make up to three demands, excluding short
form registration demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration
rights with respect to registration statements filed subsequent to the completion of a Business Combination and rights to require the
Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement
will provide that the Company will not be required to effect or permit any registration or cause any registration statement to become
effective until termination of the applicable lock-up period. The registration rights agreement does not contain liquidated damages or
other cash settlement provisions resulting from delays in registering the Company’s securities. The Company will bear the expenses
incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The Company granted the underwriter a 45-day option
to purchase up to 900,000 additional Units to cover over-allotments at the Initial Public Offering price, less the underwriting discounts
and commissions. On March 31, 2023, simultaneously with the closing of the Initial Public Offering, the underwriters elected to fully
exercise the over-allotment option to purchase an additional 900,000 Units at a price of $10.00 per Unit.

The underwriters were also entitled to a cash
underwriting discount of $0.15 per Unit, or $1,035,000 in the aggregate, which was paid upon the closing of the Initial Public Offering.
In addition, the underwriters are entitled to a deferred fee of $0.30 per Unit, or $2,070,000 in the aggregate. The deferred fee will
become payable to the underwriter from the amounts held in the Trust Account solely in the event that the Company completes a Business
Combination, subject to the terms of the underwriting agreement.

Vendor Agreement

On