Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 520

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 3
Chunk 520
---
 $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.

15

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 such transaction (other than payments of interest or dividends and any contingent or earnout consideration
based upon future performance of the combined companies, however characterized), including, without limitation, to the extent applicable,
any net value paid in respect of (i) the assets of the target and (ii) the capital stock of the target (and the spread value
of any “in the money” securities convertible into options, warrants or other rights to acquire such capital stock), after
giving effect to the assumption, retirement or defeasance, directly or indirectly (by operation of law or otherwise), of any long-term
liabilities of the target or repayment of indebtedness, including, without limitation, indebtedness secured by the assets of the target,
capital leases or preferred stock obligations; provided, that for the avoidance of doubt, any funds in the trust account (as may be applicable
in the case of a Transaction) or financing proceeds raised in connection with the closing of the transaction (including by way of an offering,
the compensation to underwriters for which is provided for below), in either case, that