Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 430

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 2
Chunk 430
---
the “Extension Payment”) into the Company’s Trust Account in order to extend
the date by which the Company has to consummate a business combination from March 31, 2024 to January 31, 2025.

On February 4, 2025, the Sponsor
deposited $83,287 into the Company’s Trust Account to extend the Termination Date from January 31, 2025 to February 28, 2025. On
February 27, 2025, the Sponsor deposited $83,287 into the Company’s Trust Account to extend the Termination Date from February 28,
2025 to March 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 the Company was able to 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  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