Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 112

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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 was
$2,923,445 and $2,529,445, respectively, outstanding under the Promissory Note.

Registration
and Stockholder’s Rights

Pursuant
to a registration rights agreement entered into on March 28, 2023, the holders of the founder shares, Placement Units and any unit
that may be issued upon conversion of the Working Capital Loans (and any underlying shares of Class A common stock) are entitled to registration
rights pursuant to a registration rights agreement requiring the Company to register such securities for resale (in the case of the founder
shares, only after conversion to shares of our Class A common stock). The holders of these securities will be entitled to make up to
three demands, excluding short form registration demands, that the Company register such securities. In addition, the holders have certain
“piggy-back” registration rights with respect to registration statements filed subsequent to the completion of a Business
Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act.
However, the registration rights agreement will provide that the Company will not be required to effect or permit any registration or
cause any registration statement to become effective until termination of the applicable lock-up period. The registration rights agreement
does not contain liquidated damages or other cash settlement provisions resulting from delays in registering the Company’s securities.
The Company will bear the expenses incurred in connection with the filing of any such registration statements.

26

Underwriting
Agreement

On
March 28, 2023, in connection with the Initial Public Offering, we entered into an underwriting agreement with LifeSci Capital LLC and
Ladenburg Thalmann & Co. Inc., as representative of the underwriters named therein.

The
underwriters were 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, $0.30 per Unit sold in the Initial Public Offering, or $2,070,000 in the aggregate
will be payable to the underwriters for deferred underwriting commissions. The deferred fee will become payable to the underwriters from
the amounts held in the trust account solely in the event that we complete an initial business combination, subject to the terms of the
underwriting agreement.

Advisory
Agreement

Pursuant
to the advisory agreement entered into in September 2022 with LifeSci Capital LLC (“Life