Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 704

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 5
Chunk 704
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 to $400,000. As
of March 31, 2023, both the Company and the Sponsor mutually agreed to extend the maturity date of the original Note. On
March 27, 2024, the maximum amount available under the Note was, further, amended and increased to $1,090,000. On June 25,
2024, the maximum amount available under the Note was further amended and increased to $1,780,000. On September 16, 2024, the
maximum amount available under the Note was further amended and increased to $1,980,000. On September 30, 2024, the maximum
amount available under the Note was further amended and increased to $2,280,000. On November 29, 2024, the maximum amount available
under the Note was further amended and increased to $2,780,000. On February 21, 2025, the maximum amount available under the Note
was further amended and increased to $3,530,000 and the maturity was extended to the earlier of (i)
the close of the Company’s initial business combination or (ii) May 31, 2025.

On March 24, 2025, the Note was amended and restated in its entirety, in order to provide, among other things, (1) that the maturity date
of the Note is May 31, 2025; provided, however, that if Trailblazer completes an initial business combination, the Note shall be extended
for an additional eighteen (18) months from the closing of the initial business combination, (2) for certain post-business combination
transaction participation rights for the Sponsor as well as most favored nation rights for the Sponsor with respect to certain post business
combination transactions and (3) for equal monthly payments of $125,000 due commencing on the first business day of the calendar month
following the month in which Trailblazer closes its initial business combination.

12

As approved by its stockholders
at the Annual Meeting of stockholders held on September 26, 2024, the Company filed an amendment to its Charter with the Delaware
Secretary of State on September 27, 2024, and also amended its investment management trust agreement, to (a) modify the terms and
extend the date by which the Company has to consummate a business combination by allowing the Company, through resolution of the board
of directors without another stockholder vote, to elect to