Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 869

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 6
Chunk 869
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, the
maximum amount available under the Note was further amended and increased to $1,090,000. On June 25, 2024, the maximum amount
available under the Note was further amended and increased to $1,780,000. On September 16, 2024, the maximum amount available under
the Note was further amended and increased to $1,980,000. On September 30, 2024, the maximum amount available under the Note was
further amended and increased to $2,280,000. On November 29, 2024, the maximum amount available under the Note was further amended
and increased to $2,780,000. On February 21, 2025, the maximum amount available under the Note was further amended and increased to
$3,530,000 (see Note 11) and the maturity date was extended to the earlier of (i) the close of
the Company’s initial business combination or (ii) May 31, 2025. As of December 31, 2024 and 2023, there was $2,529,445
and $321,585, respectively, outstanding under the Promissory Note.

On March 24, 2025, the Promissory Note was
amended and restated in its entirety, in order to provide, among other things, (1) that the maturity date of the Promissory Note is
May 31, 2025; provided, however, that if Trailblazer completes an initial business combination, the Promissory Note shall be
extended for an additional eighteen (18) months from the closing of the initial business combination, (2) for certain post-business
combination transaction participation rights for the Sponsor as well as most favored nation rights for the Sponsor with respect to
certain post business combination transactions and (3) for equal monthly payments of $125,000 due commencing on the first business
day of the calendar month following the month in which Trailblazer closes its initial business combination.

Related Party Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s directors and officers may,
but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a
Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company