Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 45

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 closing of the Company’s initial business combination.

On July 29, 2025, the Company
entered into a second amended and restated promissory note with the Sponsor, pursuant to which (i) the maturity date of the Note was amended
to be the later of September 15, 2025 or the closing of the Company’s initial business combination and (ii) the outstanding principal
balance of the Note will be converted into preferred stock of the Corporation at the closing of the initial business Combination.

As approved by its stockholders
at the Annual Meeting of stockholders held on September 26, 2024, the Company filed an amendment to its Charter with the Delaware
Secretary of State 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 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$49,774,936, or approximately $11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and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.

Results of Operations

We have neither engaged in
any operations nor generated any revenues to date. Our only activities for the period November 12, 2021 (inception) through June 30, 2025
were organizational activities, those necessary to prepare for the Initial Public Offering, described below