Company: BLZRW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110002
Chunk: 34

Company: Trailblazer Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 $4,800,000 of cash underwriting fee, $11,700,000
of Deferred Fee, and $580,880 of other offering costs.

As
of September 30, 2025, we had $1,266,372 of cash in our operating account. As of September 30, 2025, we had of $1,271,886. As of September
30, 2025, $576,611.52 of the amount earned on funds held in the Trust Account was available to pay taxes, if any.

20

As
of September 30, 2025, we had marketable securities held in the Trust Account of $275,576,611.52 (including approximately $576,611.52
of interest income). We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the
funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (which intertest shall be net
of taxes payable and exclude the Deferred Fee), to complete our Business Combination. To the extent that our share capital or debt is
used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will
be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth
strategies.

To
mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases
the longer that we hold investments in the Trust Account, we may, at any time, (based on our Management Team’s ongoing assessment
of all factors related to our potential status under the Investment Company Act) instruct the trustee to liquidate the investments held
in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand deposit account at a
bank.

As
of September 30, 2025, we have cash held outside of the Trust Account of $1,266,372 We intend to use the funds held outside the Trust
Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants, or similar locations of prospective target businesses or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

Our
liquidity needs through September 30, 202