Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 71

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 71
---
 promissory note - related party 
     —  
     (3,500)
  
    Redemption payment to redeeming stockholders 
     (49,774,936) 
     — 
  
    Payment of offering costs 
     (75,000) 
     (581,635)
  
    Net cash (used in) provided by financing activities 
     (47,642,076) 
     71,424,950 

    Net Change in Cash and Restricted Cash 
     259,006  
     573,423 
  
    Cash and Restricted Cash – Beginning of period 
     607,816  
     34,393 
  
    Cash and Restricted Cash – End of period 
    $866,822  
    $607,816 

    Cash and Restricted Cash, end of period 

    Cash 
    $63,829  
    $607,816 
  
    Cash - restricted 
     802,993  
     — 
  
    Cash and Restricted Cash – End of period 
    $866,822  
    $607,816 

    Supplementary cash flow information: 

    Cash paid for income taxes 
    $347,716  
    $— 

    Non-Cash investing and financing activities: 

    Offering costs included in accrued offering costs 
    $—  
    $75,000 
  
    Excise tax payable 
    $497,749  
    $— 
  
    Remeasurement of Class A common stock subject to redemption value 
    $4,184,138  
    $7,852,179 
  
    Deferred underwriting fee payable 
    $—  
    $2,070,000 

The accompanying notes are an integral
part of these consolidated financial statements.

F-6

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS

Trailblazer Merger Corporation I (the “Company”,
“we”) is a blank check company incorporated in Delaware on November 12, 2021. The Company was formed for the purpose
of effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination
with one or more businesses (the “Business Combination”).

As of December 31, 2024, the Company has two subsidiaries,
Trailblazer Merger Sub Ltd, an Israeli company and a direct, wholly owned subsidiary