Company: BLZRW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110002
Chunk: 43

Company: Trailblazer Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 43
---
 freely sold prior to our initial Business
Combination, we may amend such provisions to permit them to be freely sold after the Business Combination earlier than they would otherwise
be permitted, which may have an adverse effect on the price of our securities.

The
share price of the post-Business Combination company may be less than the Redemption Price (as defined below) of our Public Shares. 

Each Unit sold in our Initial
Public Offering at an offering price of $10.00 per Unit consisted of one Public Share and one-third of one Public Warrant. Of the proceeds
we received from the Initial Public Offering and the Private Placement, $275,000,000 was placed in our Trust Account. We will provide
our Public Shareholders the opportunity to redeem all or a portion of their Public Shares in connection with the completion of our initial
Business Combination, and potentially upon the occurrence of certain other events prior to our initial Business Combination. We expect
that the pro rata redemption price in any redemption will be approximately $10.02 per Public Share as of September 30, 2025 (before taxes
payable, if any, and such amount, the “Redemption Price”), representing a pro rata portion of our Trust Account without taking
into account any interest or other income earned on such funds (less any withdrawals from such interest or income for taxes paid), although
the Redemption Price may be less in certain circumstances. As a result, Public Shareholders who own our Public Shares on a redemption
date can anticipate receiving the Redemption Price in connection with a redemption for each Public Share that they choose to redeem.

There
can be no assurance that, after our initial Business Combination, our Public Shareholders would be able to sell their shares in the post-Business
Combination company for the Redemption Price, or any higher price. We have not, as yet, identified a target and are therefore unable
to provide any assurances as to its financial condition, business prospects or potential risks. It is therefore possible that the share
price of the post-Business Combination company may decline below the Redemption Price. In recent years, the share prices of many
post-Business Combination companies have fallen following a Business Combination. As a result, if our Public Shareholders continue to
hold shares in the post-Business Combination company following our initial Business Combination, we cannot assure our shareholders that
the trading price of such shares will be greater than the Redemption Price.

26

Item
2. Unregistered Sales of Equity Securities and Use of