Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 11

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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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$11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 4,520,384 shares of the Company’s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.

Through June 30, 2025, the Sponsor deposited a
total of $2,212,866 (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 July 31, 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). 

On July 31, 2025, the Sponsor deposited $83,287
into the Company’s Trust Account to extend the Termination Date from July 31, 2025 to August 31, 2025 (see Note 10).

If the Company is unable to complete a Business
Combination within Termination Date (September 30, 2025, 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