Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 14

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 14
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U” on or about March 29, 2023, and the shares of common stock and
rights began separate trading on Nasdaq under the symbols “TBMC” and “TBMCR,” respectively, on or about May 15,
2023.

Holders of Record

As of March 18, 2025, there were 4,499,116 of our shares of common
stock issued and outstanding held by approximately 4 stockholders of record. The number of record holders was determined from the records
of our transfer agent and does not include beneficial owners of shares of common stock whose shares are held in the names of various security
brokers, dealers, and registered clearing agencies.

Dividends

We have not paid any cash dividends
on our common stock to date and do not intend to pay cash dividends prior to the completion of an initial business combination. The payment
of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition
subsequent to completion of a business combination. The payment of any dividends subsequent to a business combination will be within the
discretion of our board of directors at such time. It is the present intention of our board of directors to retain all earnings, if any,
for use in our business operations and, accordingly, our board of directors does not anticipate declaring any dividends in the foreseeable
future. In addition, our board of directors is not currently contemplating and does not anticipate declaring any share dividends in the
foreseeable future. Further, if we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants we
may agree to in connection therewith.

Securities Authorized for Issuance Under Equity
Compensation Plans

None.

Recent Sales of Unregistered Securities

There were no unregistered
securities to report which have not been previously included in a Quarterly Report on Form 10-Q or a Current Report on Form 8-K.

Use of Proceeds

The Company is a blank check
company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses, which we refer to as our initial business combination.

On March 31, 2023, the Company
consummated the IPO of 6,900,000 Units, which includes the full exercise by the underwriters of their over-allotment option in the amount
of 900,000 Units.