Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 32

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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, each holder of a Public Right will automatically receive
one-tenth (1/10) of one share of common stock upon consummation of a Business Combination, even if the holder of a Public Right converted
all shares held by him, her or it in connection with a Business Combination or an amendment to the Company’s Amended and Restated
Certificate of Incorporation with respect to its pre-initial business combination activities. In the event that the Company will not
be the surviving company upon completion of a Business Combination, each holder of a Public Right will be required to affirmatively convert
his, her or its rights in order to receive the one-tenth (1/10) of a share underlying each Public Right upon consummation of the Business
Combination.

The
Company will not issue fractional shares in connection with an exchange of Public Rights. Fractional shares will either be rounded down
to the nearest whole share or otherwise addressed in accordance with the applicable provisions of the Delaware General Corporation Law.
As a result, the holders of the Public Rights must hold rights in multiples of 10 in order to receive shares for all of the holders’
rights upon closing of a Business Combination.

17

NOTE 8.
FAIR VALUE MEASUREMENTS

The
Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each
reporting period, and non-financial assets and liabilities that are-measured and reported at fair value at least annually.

The
fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would
have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction
between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company
seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable
inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is
used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and
liabilities:

    Level
    1:
    Quoted
    prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions
    for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis