Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 0

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
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ITEM 1. BUSINESS

Introduction

Trailblazer Merger Corporation
I (the “Company”) is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business
combination. While we may pursue an initial business combination target in any business or industry, we intend to focus our search for
a target business on companies operating in the technology industry.

On March 31, 2023, the Company
consummated the IPO of 6,000,000 units (the “Units”). Each Unit consisted of one share of Class A common stock, $0.0001 par
value (“Common Stock”) and one right (“Right”) to receive one-tenth (1/10) of one share of Common Stock upon the
consummation of an initial business combination. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds
of $60,000,000. The Company granted the underwriters a 45-day option to purchase up to 900,000 additional Units to cover over-allotments,
if any, which the underwriters exercised in full simultaneously with the consummation of the IPO. The total aggregate issuance by the
Company of 6,900,000 Units at a price of $10.00 per unit resulted in a total gross proceeds of $69,000,000.

Simultaneously with the closing
of the IPO, the Company consummated the private placement (“Private Placement”) with the Sponsor 394,500 units (the “Private
Units”), generating total proceeds of $3,945,000. The Private Units are identical to the Units sold in the IPO. The Sponsor agreed
not to transfer, assign or sell any of the Private Units or underlying securities (except in limited circumstances, as described in the
registration statement) until the completion of the Company’s initial business combination. The holders of the Private Units were
granted certain demand and piggyback registration rights in connection with the purchase of the Private Units. The Private Units were
issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, as the transaction did not involve a public offering.

As of March 31, 2023, a total
of $70,380,000 of the net proceeds from the IPO and the Private Placement was deposited in