Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 889

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 7
Chunk 889
---
 of additional
shares in connection with an initial business combination:

    ●
    may significantly dilute the equity interest of our investors who would not have pre-emption rights in respect of any such issuance;

    ●
    may subordinate the rights of holders of shares of common stock if we issue shares of preferred stock with rights senior to those afforded to our shares of common stock;

    ●
    could cause a change in control if a substantial number of shares of our common stock is issued, which may affect, among other things, our ability to use our net operating loss carry forwards, if any, and could result in the resignation or removal of our present officers and directors;

    ●
    may have the effect of delaying or preventing a change of control of us by diluting the stock ownership or voting rights of a person seeking to obtain control of us; and

    ●
    may adversely affect prevailing market prices for our common stock, rights and/or warrants.

Similarly, if we issue debt
securities or otherwise incur significant debt, it could result in:

    ●
    default and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt obligations;

    ●
    acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;

    ●
    our immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand;

    ●
    our inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing while the debt security is outstanding;

    ●
    using a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends on our common stock if declared, our ability to pay expenses, make capital expenditures and acquisitions, and fund other general corporate purposes;

    ●
    limitations on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;

    ●
    increased vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation;

    ●
    limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, and execution of our strategy; and

    ●
    other purposes and other disadvantages compared to our competitors who have less debt.

We expect to continue