Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 709

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 5
Chunk 709
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 available under the Note was further amended and
increased to $3,530,000 and the maturity date 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.

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 extend the Termination Date by one month each time from September 30, 2024 to September 30, 2025, or such
earlier date as determined by the Board in its sole discretion, unless the closing of a business combination shall have occurred prior
thereto; and (b) to remove the provision which permitted the withdrawal of $100,000 from the trust account of the Company in order to
pay dissolution expenses. For each monthly extension approved by the Board, the monthly payment required to be deposited into the Company’s
Trust Account to extend the Termination Date by one month should be the lesser of (i) $0.035 for each outstanding share of Public Stock
after giving effect to the redemption, and (ii) $100,000.

In connection with the stockholders’ vote
at the Annual Meeting, 4,520,384 shares were tendered for redemption.

On October 9, 2024, $49