Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 65

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 65
---
 a Business Combination and rights to
require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration
rights agreement will provide that the Company will not be required to effect or permit any registration or cause any registration statement
to become effective until termination of the applicable lock-up period. The registration rights agreement does not contain liquidated
damages or other cash settlement provisions resulting from delays in registering the Company’s securities. The Company will bear
the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

On March 28, 2023, in connection
with the Initial Public Offering, we entered into an underwriting agreement with LifeSci Capital LLC and Ladenburg Thalmann & Co.
Inc., as representative of the underwriters named therein.

The underwriters were entitled
to a cash underwriting discount of $0.15 per Unit, or $1,035,000 in the aggregate, which was paid upon the closing of the 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