Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 188

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 2
Chunk 188
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2025, the Company filed an amendment to its Charter with the Delaware Secretary of State on September 30, 2025,
to modify the terms and extend 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, 2025 to March 30, 2026, 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. 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 $0.035 for each outstanding
share of Public Stock after giving effect to the redemption. In addition, in connection with stockholders Annual Meeting held on September
29, 2025, the stockholders approved the amendment of the Company’s investment management trust agreement, allowing the Company to
extend the date by which the Company must consummate a Business Combination up to six times, each such extension for an additional one
month period, until March 30, 2026.

In connection with the stockholders’
vote at the Annual Meeting held on September 29, 2025, 2,046,800 shares were tendered for redemption.

On October 22, 2025, $23,950,427,
or approximately $11.70 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 2,046,800
shares of the Company’s Class A common stock that were redeemed were cancelled. 

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