Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 1669

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 15
Chunk 1669
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1,713,146 (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. The Extension Payment was loaned as a draw
down pursuant to an unsecured promissory note the Company issued to the Sponsor (see Note 5).

As approved by its stockholders at the annual
meeting of stockholders held on September 26, 2024 (the “Annual Meeting”), the Company filed an amendment to its Amended and
Restated Certificate of Incorporation (the “Charter”) with the Delaware Secretary of State on September 27, 2024 (the “Charter
Amendment”), and also amended its investment management trust agreement, to (a) modify the terms and extend the date (the “Termination
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 (the “Combination Period”), 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$11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 4,520,384 shares of the Company’s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 February 4, 2025, the Sponsor deposited $83,287
into the Company’s Trust Account to extend the Termination Date from January 31, 2025 to