Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 27

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 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 value of, without duplication, all cash, securities,
or other property paid or transferred at the closing of such transaction by the target’s stockholders or to be paid or transferred
in the future to the target’s stockholders with respect to such transaction (other than payments of interest or dividends and any
contingent or earnout consideration based upon future performance of the combined companies, however characterized), including, without
limitation, to the extent applicable, any net value paid in respect of (i) the assets of the target and (ii) the capital stock of the
target (and the spread value of any “in the money” securities convertible into options, warrants