Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 29

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 amount. On March 27, 2024, 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.

On March 24, 2025, the Promissory Note was further
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. On May 29, 2025, the Note was further amended, pursuant to which (i)
the maximum amount available to borrow under the Note was further increased by an additional $500,000 to $4,030,000 and (ii) the maturity
date of the Note was amended to be the earlier of July 30, 2025 or the closing of the Company’s initial business combination. As
of September 30, 2025 and December 31, 2024, there was $0 and $2,529,445, respectively, outstanding under the Promissory Note. The Promissory
Note was extinguished on July 29, 2025 through the issuance of the second amended and restated promissory note agreement (as described