Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 36

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 36
---
olders from time to time.

The Registration Rights Agreement will terminate
on the earlier of (a) the five year anniversary of the date of the Registration Rights Agreement or (b) the date as of which (i) all of
the Registrable Securities have been sold pursuant to a Registration Statement or (ii) the Holders of all Registrable Securities are permitted
to sell the Registrable Securities under Rule 144 (or any similar provision) under the Securities Act without limitation on the amount
of securities sold or the manner of sale and without compliance with public reporting requirements.

The PIPE Investment

The Company will enter into subscription agreements
with certain investors providing for aggregate investments in the amount of no less than $6,000,000 in the Company Common Stock in a private
placement that will close concurrently with the Closing (the “PIPE Investment”).

In the event that in excess of $3,500,000 remains
in the Trust Account after redemption of the Company Class A Common Stock in connection with the Merger, the PIPE Investment shall be
reduced by the amount by which the Trust Account exceeds $3,500,000. Further, up to $1,000,000 of the PIPE Investment may be provided
upon the initial filing of the Registration Statement with the Securities and Exchange Commission, if mutually agreed upon between the
parties. To date, none of the PIPE Investment has been provided.

NOTE 7. STOCKHOLDERS’ DEFICIT

Preferred Stock — The
Company is authorized to issue 1,000,000 shares of $0.0001 par value preferred stock. At September 30, 2025 and December 31, 2024, there
were no shares of preferred stock issued and outstanding.

Class A Common Stock —
The Company is authorized to issue up to 100,000,000 shares of Class A, $0.0001 par value common stock. Holders of the Company’s
common stock are entitled to one vote for each share. At September 30, 2025 and December 31, 2024, there were 2,119,499 shares of Class A
common stock issued and outstanding, excluding 332,816 and 2,379,616 shares of Class A common stock subject to possible redemption, respectively.

Class B Common Stock —
The Company is authorized to issue up to 5,000,000 shares of Class B, $0.0001 par value common stock