Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 1097

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 9
Chunk 1097
---
 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 (the “Combination Period”), 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 Company’s 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$11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 4,520,384 shares of the Company’s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.

On February 4, 2025, the Sponsor deposited $83,287
into the Company’s Trust Account to extend the Termination Date from January 31, 2025 to February 28, 2025 (see Note 11).

On February 27, 2025, the Sponsor deposited $83,287
into the Company’s Trust Account to extend the Termination Date from February 28, 2025 to March 31, 2025 (see Note 11).

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,
div