Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 196

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 2
Chunk 196
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 determined by us; the Trustee may not invest in any other securities or assets, it being understood that the Trust Account will earn
no interest while account funds are uninvested awaiting our instructions hereunder; and while account funds are invested or uninvested,
the Trustee may earn bank credits or other consideration. We agreed to give all instructions to the Trustee in writing, signed by the
Chairman of the Board, Chief Executive Officer, Chief Financial Officer or Secretary. In addition, the Trustee shall be entitled to rely
on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care,
believes to be given by any one of the persons authorized to give written instructions, provided that we shall promptly confirm such instructions
in writing. We will Pay the Trustee the fees set forth in the agreement, including an initial acceptance fee, annual administration fee,
and transaction processing fee which fees shall be subject to modification by the parties from time to time.

In connection with the Annual
Meeting held on September 26, 2024, the Company amended its investment management trust agreement, dated as of March 28, 2023, by and
between the Company and Continental Stock Transfer & Trust Company, to allow the Company to extend the date by which the Company must
consummate a business combination up to twelve times, each such extension for an additional one month period, until September 30, 2025
and to remove the provision in permitting the withdrawal of $100,000 of dissolution expenses from the trust account of the Company.

In connection with stockholders
Annual Meeting held on September 29, 2025, the stockholders approved the amendment of the Company’s investment management trust
agreement, allowing the Company to extend the date by which the Company must consummate a Business Combination up to six times, each such
extension for an additional one month period, until March 30, 2026.

31

Critical Accounting Estimates

Certain of our accounting
policies require that management apply significant judgments in defining the appropriate assumptions integral to financial estimates.
On an ongoing basis, management reviews the accounting policies, assumptions, estimates and judgments to ensure that our financial statements
are presented fairly and in accordance with U.S. GAAP. Judgments are based on historical experience, terms of existing contracts, industry
trends and information available from outside sources, as appropriate. Some of the more significant estimates are in connection with determining
the