Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 419

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 2
Chunk 419
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4 to September 30, 2025, or such
earlier date as determined by the Board in its sole discretion, unless the closing of a business combination shall have occurred prior
thereto; and (b) to remove the provision which permitted the withdrawal of $100,000 from the trust account of the Company in order to
pay dissolution expenses. For each monthly extension approved by the Board, the monthly payment required to be deposited into the Company’s
Trust Account to extend the Termination Date by one month should be the lesser of (i) $0.035 for each outstanding share of Public Stock
after giving effect to the redemption, and (ii) $100,000.

In connection with the stockholders’ vote
at the Annual Meeting, 4,520,384 shares were tendered for redemption.

On October 9, 2024, $49,774,936, or approximately
$11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 4,520,384 shares of the Company’s
Class A common stock that were redeemed were cancelled.

On February 4, 2025, the Sponsor deposited $83,287
into the Company’s Trust Account to extend the Termination Date from January 31, 2025 to February 28, 2025.

On February 27, 2025, the Sponsor deposited $83,287
into the Company’s Trust Account to extend the Termination Date from February 28, 2025 to March 31, 2025.

We intend to use substantially all of the 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