Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 150

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 150
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 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, $49,774,936,
or approximately $11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 4,520,384
shares of the Company’s Class A common stock that were redeemed were cancelled.

On July 31, 2025, the Sponsor
deposited $83,287 into the Company’s Trust Account to extend the Termination Date from July 31, 2025 to August 31, 2025.

We intend to use substantially
all of the funds held in the trust account, including any amounts representing interest earned on the trust account (less income taxes
payable), to complete our Business Combination. To the extent that our capital stock 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.

In order to fund working
capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of our officers and
directors or their affiliates may, but are not obligated to, loan us funds as may be required. If we complete