Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 109

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 109
---
,936, or approximately $11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming
holders and the 4,520,384 shares of the Company’s Class A common stock that were redeemed were cancelled.

On
April 1, 2025, the Sponsor deposited $83,287 into the Company’s Trust Account to extend the Termination Date from March 31, 2025
to April 30, 2025. On May 2, 2025, the Sponsor deposited $83,287 into the Company’s Trust Account to extend the Termination Date
from April 30, 2025 to May 31, 2025.

We
intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust
account (less income taxes payable), to complete our Business Combination. To the extent that our capital stock or debt is used, in whole
or in part, as consideration to complete our Business Combination, the remaining proceeds held in the trust account will be used as working
capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

In
order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor, or certain
of our officers and directors or their affiliates may, but are not obligated to, loan us funds as may be required. If we complete a business
combination, we would repay such loaned amounts. In the event that a Business Combination does not close, we may use a portion of the
working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used for
such repayment. Up to $1,500,000 of such Working Capital Loans (as defined below) may be convertible into Units of the post-business
combination entity at a price of $10.00 per unit. The Units would be identical to the Private Units. As of March 31, 2025 and December
31, 2024, there was no amount outstanding under the Working Capital Loan.

25

We
will need to raise additional capital through loans or additional investments from our Sponsor, stockholders, officers, directors, or
third parties. Our officers, directors and Sponsor may, but are not obligated to, loan us funds, from time to time or at any time, in
whatever amount they deem reasonable in their sole discretion, to meet our working capital