Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 616

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 4
Chunk 616
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transaction participation 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.

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

On March 28, 2023, in connection with the Initial
Public Offering, we entered into an underwriting agreement with LifeSci Capital LLC and Ladenburg Thalmann & Co. Inc., as representative
of the underwriters named therein.

The underwriters were 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,
$0.30 per Unit sold in the Initial Public Offering, or $2,070,000 in the aggregate will be payable to the underwriters for deferred underwriting
commissions. The deferred fee will become payable to the underwriters from the amounts held in the trust account solely in the event that
we complete an initial business combination, subject to the terms