Company: TBMC
Filing Date: 2025-11-21
Form Type: 10-Q
Source: 0001213900-25-113605
Chunk: 94

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-21
Form: 10-Q
Item: Part I, Item 8
Chunk 94
---
 the Termination Date by one month should
be the lesser of (i) $0.035 for each outstanding share of Public Stock after giving effect to the redemption, and (ii) $100,000.

In connection with the stockholders’ vote
at the Annual Meeting, 4,520,384 shares were tendered for redemption.

On October 9, 2024, $49,774,936, or approximately
$11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 4,520,384 shares of the Company’s
Class A common stock that were redeemed were cancelled.

6

Through September 30, 2025, the Sponsor deposited
a total of $2,379,439 (the “Extension Payment”) into the Company’s Trust Account in order to extend the date by which
the Company has to consummate a business combination from March 31, 2024 to September 30, 2025. The Extension Payment was loaned as a
draw down pursuant to an unsecured promissory note the Company issued to the Sponsor (see Note 5).

As approved by its stockholders at the Annual
Meeting of stockholders held on September 29, 2025, the Company filed an amendment to its Charter with the Delaware Secretary of State
on September 30, 2025, to modify the terms and extend the Termination Date by which the Company has to consummate a business combination
by allowing the Company, through resolution of the board of directors without another stockholder vote, to elect to extend the Termination
Date by one month each time from September 30, 2025 to March 30, 2026, or such earlier date as determined by the Board in its sole discretion,
unless the closing of a business combination shall have occurred prior thereto. For each monthly extension approved by the Board, the
monthly payment required to be deposited into the Company’s Trust Account to extend the Termination Date by one month should be
$0.035 for each outstanding share of Public Stock after giving effect to the redemption. In addition, in connection with stockholders
Annual Meeting held on September 29, 2025, the stockholders approved the amendment of the Company’s investment management trust
agreement, allowing the Company to extend the date by which the Company must consummate a Business Combination up to six times, each such
extension for an additional one month period, until March 30