Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 10

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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, the Sponsor deposited a total of $1,879,719 (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 March 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). 

On
April 1, 2025, the Sponsor deposited $83,287 into the Company’s Trust Account to extend the Termination Date from March 31, 2025
to April 30, 2025 (see Note 10).

On
May 2, 2025, the Sponsor deposited $83,287 into the Company’s Trust Account to extend the Termination Date from April 30, 2025
to May 31, 2025 (see Note 10).

If
the Company is unable to complete a Business Combination within Termination Date (September 30, 2025, if extended by the full amount
of time), the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible
but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released
to the Company to pay its tax obligations, divided by the number of then outstanding Public Shares, which redemption will completely
extinguish Public Stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any),
and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining
stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations
under Delaware law to provide for claims of creditors and the requirements of other applicable law.

The
Sponsor has agreed to waive its liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination
within the Combination Period. However, if the Sponsor acquires Public Shares in or after the Initial Public Offering, such Public Shares
will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the
Combination Period. The under