Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 41

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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2024 
  
    General and administrative expenses 
    $563,783  
    $532,847  
    $1,675,074  
    $1,493,646 
  
    Interest earned on the Trust Account 
    $287,177  
    $883,635  
    $851,602  
    $2,814,405 

The CODM reviews interest earned on the Trust
Account to measure and monitor stockholder value and determine the most effective strategy of investment with the Trust Account funds
while maintaining compliance with the Trust Agreement.

General and administrative expenses are reviewed
and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination or similar
transaction within the business combination period. The CODM also reviews general and administrative costs to manage, maintain and enforce
all contractual agreements to ensure costs are aligned with all agreements and budget. General and administrative costs, as reported on
the statement of operations, are the significant segment expenses provided to the CODM on a regular basis. 

19

NOTE 10. SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date through the date that the unaudited condensed consolidated financial statements were issued.
Based upon this review, other than stated below, the Company did not identify any subsequent events that have required adjustment or disclosure
in the unaudited condensed consolidated financial statements.

On October 10, 2025, the Sponsor deposited $11,649
into the Company’s Trust Account to extend the Termination Date from September 30, 2025 to October 31, 2025.

On October 22, 2025, $23,950,427, or approximately
$11.70 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 2,046,800 shares of the Company’s
Class A common stock that were redeemed were cancelled.

On October 28, 2025, the Company and the Underwriters
entered into an agreement pursuant to which the parties have agreed that, in lieu of a cash payment, the Company will pay each Underwriter
103,500 shares of common stock of the Company (the “PubCo Shares”) as payment for deferred underwriting commissions (the “Deferred
Fee Agreement”).

In addition, pursuant to an advisory agreement
between the Company and LifeSci entered into on September 23, 2022 (the “Ad