Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 222

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 222
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 trust account $690,000 in full, (or $0.10 per share) for each extension, on or prior to the date of the applicable deadline.

Through December 31, 2024, the Sponsor deposited
a total of $1,713,146 (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 January 31, 2025.

The
Extension Payment was loaned as a draw down pursuant to  a non-interest bearing unsecured promissory note the Company issued to
the Sponsor on May 17, 2022, pursuant to the Company was able borrow up to an aggregate principal amount of $300,000 (the
“Note”). On January 20, 2023, the maximum amount available under the Note was amended and increased to $400,000. As of
March 31, 2023, both the Company and the Sponsor mutually agreed to extend the maturity date of the original Note. 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 and the maturity date was extended to the earlier of (i) the close of the Company’s initial
business combination or (ii) May 31, 2025.

On March 24, 2025, the Note was amended and restated in its entirety, in order to provide, among other things, (1) that the maturity date
of the Note is May 31, 2025; provided, however, that if Trailblazer completes an initial business combination, the Note shall be extended
for an additional eighteen (