Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 147

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 8
Chunk 147
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 Initial Public
Offering. In addition, $0.30 per Unit sold in the Initial Public Offering, or $2,070,000 in the aggregate will be payable to the underwriters
for deferred underwriting commissions. The deferred fee will become payable to the underwriters from the amounts held in the trust account
solely in the event that we complete an initial business combination, subject to the terms of the underwriting agreement.

On October 28, 2025, the
Company and the Underwriters entered into an agreement pursuant to which the parties have agreed that, in lieu of a cash payment, the
Company will pay each Underwriter 103,500 of the PubCo Shares as payment for deferred underwriting commissions.

Advisory Agreement

Pursuant to the advisory
agreement entered into in September 2022 with LifeSci Capital LLC (“LifeSci”), further amended in March 2023, upon the consummation
of the initial business combination, we have agreed to pay LifeSci equal to one and one half (1.5%) percent of the total consideration
paid in connection with the initial business combination in the form of equity interests in the entity that survives any such business
combination in exchange for the provision by the underwriters of certain services relating to the initial business combination. On October
28, 2025, the Company, the Sponsor, and LifeSci entered into an amendment to the Advisory Agreement pursuant to which LifeSci agreed to
waive its advisory fee.

For the purposes of this
section, “total consideration” means the total market value of, without duplication, all cash, securities, or other property
paid or transferred at the closing of such transaction by the target’s stockholders or to be paid or transferred in the future to
the target’s stockholders with respect to such transaction (other than payments of interest or dividends and any contingent or earnout
consideration based upon future performance of the combined companies, however characterized), including, without limitation, to the extent
applicable, any net value paid in respect of (i) the assets of the target and (ii) the capital stock of the target (and the
spread value of any “in the money” securities convertible into options, warrants or other rights to acquire such capital stock),
after giving effect to the assumption, retirement or defeasance, directly or indirectly (by operation of law or otherwise), of any long-term
liabilities of the target or repayment of indebtedness, including, without