Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 140

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 140
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 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 needs. Accordingly, we may not be able to
obtain additional financing. If we are unable to raise additional capital, we may be required to take additional measures to conserve
liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction,
and reducing overhead expenses. We cannot provide any assurance that new financing will be available to us on commercially acceptable
terms, if at all. 

In
connection with the Company’s assessment of going concern considerations in accordance with the authoritative guidance in Financial
Accounting Standard Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties
about an Entity’s Ability to Continue as a