Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 95

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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, 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 10, 2025, the Sponsor deposited $11,649
into the Company’s Trust Account to extend the Termination Date from September 30, 2025 to October 31, 2025 (see Note 10).

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$11.70 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 2,046,800 shares of the Company’s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 (see Note 10).

On November 4, 2025, the Sponsor deposited $11,649
into the Company’s Trust Account to extend the Termination Date from October 31, 2025 to November 30, 2025 (see Note 10).

If the Company is unable to complete a Business
Combination within Termination Date (March 30, 2026, if extended by the full amount of time), the Company will (i) cease all operations
except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter,
redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including
interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations, divided
by the number of then outstanding Public Shares, which redemption will completely extinguish Public Stockholders’ rights as stockholders
(including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following
such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve
and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements
of other applicable law.

The Sponsor has agreed to waive its liquidation
rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However,
if the Sponsor acquires Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions
from the Trust Account if the Company fails