Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 32

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 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

The Company granted the underwriter a 45-day option
to purchase up to 900,000 additional Units to cover over-allotments at the Initial Public Offering price, less the underwriting discounts
and commissions. On March 31, 2023, simultaneously with the closing of the Initial Public Offering, the underwriters elected to fully
exercise the over-allotment option to purchase an additional 900,000 Units at a price of $10.00 per Unit.

The underwriters were also 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, the underwriters are entitled to a deferred fee of $0.30 per Unit, or $2,070,000 in the aggregate. The deferred fee will
become payable to the underwriter from the amounts held in the Trust Account solely in the event that the Company completes a Business
Combination, subject to the terms of the underwriting agreement.

Vendor Agreement

On April 10, 2024, the Company entered into an
agreement with a vendor for legal services with respect to Israeli transactional legal matters pertaining to business combination involving
Cyabra. The Company and the vendor agreed to a cap in fees of $117,000 (including taxes) if the Business Combination does not close, and
a cap in fees of $210,600 (including taxes) if the Business Combination closes. As of September 30, 2025 and December 31, 2024, the Company
has paid the vendor the full amount of $117,000.

Advisory Agreement

Pursuant to the advisory agreement entered into
in September 2022 with LifeSci Capital LLC (“LifeSci”), further amended in March 2023, upon the consummation of the