Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 143

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 143
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, 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.

26

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 of the
underwriting agreement.

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 initial business combination, we have agreed to pay LifeSci equal to one and one half (1.5%) percent of
the total consideration paid in connection with the initial business combination in the form of equity interests in the entity that survives
any such business combination in exchange for the provision by the underwriters of certain services relating to the initial business
combination.

For
the purposes of this section, “total consideration” means the total market value of, without duplication, all cash, securities,
or other property paid or transferred at the closing of such transaction by the target’s stockholders or to be paid or transferred
in the future to the target’s stockholders with respect to