Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 53

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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holders approved the amendment of the Company’s investment management trust agreement, allowing the Company to
extend the date by which the Company must consummate a Business Combination up to six times, each such extension for an additional one
month period, until March 30, 2026.

In connection with the stockholders’
vote at the Annual Meeting held on September 29, 2025, 2,046,800 shares were tendered for redemption.

On October 22, 2025, $23,950,427,
or approximately $11.70 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 2,046,800
shares of the Company’s Class A common stock that were redeemed were cancelled.

Results of Operations

We have neither engaged in
any operations nor generated any revenues to date. Our only activities for the period November 12, 2021 (inception) through September
30, 2025 were organizational activities, those necessary to prepare for the Initial Public Offering, described below, and identifying
a target company for a Business Combination. We do not expect to generate any operating revenues until after the completion of our Business
Combination. We generate non-operating income in the form of interest income on marketable securities held in the Trust Account. We incur
expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due
diligence expenses.

For the three months ended
September 30, 2025, we had a net loss of $3,693,011, which consists of general and administrative expenses of $563,783, loss on debt extinguishment
of promissory note of $6,222,973, and provision for income taxes of $49,807, offset by interest earned on marketable securities held in
Trust Account of $287,177, and gain on change in fair value of promissory note $2,856,375.

For the nine months ended
September 30, 2025, we had a net loss of $4,384,093, which consists of general and administrative expenses of $1,675,074, loss on debt
extinguishment of promissory note of $6,222,973, and provision for income taxes of $194,023, offset by interest earned on marketable securities
held in Trust Account of $851,602, and gain on change in fair value of