Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 109

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 109
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 the Company’s Trust Account to extend the Termination Date from July 31, 2025 to August 31, 2025.

The Extension Payment was
loaned as a draw down pursuant to a non-interest bearing unsecured promissory note the Company issued to the Sponsor on May 17, 2022,
pursuant to which the Company was able borrow up to an aggregate principal amount of $300,000 (the “Note”). On January 20,
2023, the maximum amount available under the Note was amended and increased 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.

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. On May 29, 2025, the Note was further amended, pursuant to which (i) the maximum
amount