Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 88

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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 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

The
Company granted the underwriter a 45-day option to purchase up to 900,000 additional Units to cover over-allotments at the Initial Public
Offering price, less the underwriting discounts and commissions. On March 31, 2023, simultaneously with the closing of the Initial
Public Offering, the underwriters elected to fully exercise the over-allotment option to purchase an additional 900,000 Units at a price
of $10.00 per Unit.

The
underwriters were also 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, the underwriters are entitled to a deferred fee of $0.30 per Unit, or $2,070,000
in the aggregate. The deferred fee will become payable to the underwriter from the amounts held in the Trust Account solely in the event
that the Company completes a Business Combination, subject to the terms of the underwriting agreement.

Vendor
Agreement

On
April 10, 2024, the Company entered into an agreement with a vendor for legal services with respect to Israeli transactional legal matters
pertaining to business combination involving Cyabra. The Company and the vendor agreed to a cap in fees of $117,000 (including taxes)
if the Business Combination does not close, and a cap in fees of $210,600 (including taxes) if the Business Combination closes. As of
March 31, 2025 and December 31, 2024, the Company has paid the vendor the full amount of $117,000.

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, the Company 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.

For
the purposes of this section, “total consideration” means the total market