Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 1634

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 14
Chunk 1634
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 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 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 or other rights to acquire such capital stock), after giving effect to
the assumption, retirement or defeasance, directly or indirectly (by operation of law or otherwise), of any long-term liabilities of the
target or repayment of indebtedness, including, without limitation, indebtedness secured by the assets of the target, capital leases or
preferred stock obligations; provided, that for the avoidance of doubt, any funds in the trust account (as may be applicable in the case
of a Transaction) or financing proceeds raised in connection with the closing of the transaction (including by way of an offering, the
compensation to underwriters for which is provided for below), in either case, that are not paid to the target’s stockholders as
consideration in the transaction will not be included as part of the Total Consideration.

For purposes of this section, the market value
of any publicly