Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 1401

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 10
Chunk 1401
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otments 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.

F-17

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 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 initial
business combination, the Company 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