Company: BLZRW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110002
Chunk: 52

Company: Trailblazer Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 52
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 withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the
funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (which intertest shall be net
of taxes payable and exclude the Deferred Fee), to complete our Business Combination. To the extent that our share capital or debt is
used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will
be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth
strategies.

To
mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases
the longer that we hold investments in the Trust Account, we may, at any time, (based on our Management Team’s ongoing assessment
of all factors related to our potential status under the Investment Company Act) instruct the trustee to liquidate the investments held
in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand deposit account at a
bank.

As
of September 30, 2025, we have cash held outside of the Trust Account of $1,266,372 We intend to use the funds held outside the Trust
Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants, or similar locations of prospective target businesses or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

Our
liquidity needs through September 30, 2025 have been satisfied through (i) a contribution of $25,000 from the Sponsor in exchange for
the issuance of our Founder Shares, (ii) a loan pursuant to the IPO Promissory Note, and (iii) the net proceeds from the consummation
of the Private Placement not held in the Trust Account.

Promissory
Note

Prior
to the closing of our Initial Public Offering, our Sponsor agreed to loan us an aggregate of up to $300,000 under the IPO Promissory
Note. Such loans and advances were non-interest bearing and payable on the earlier of December 31, 2025 or the completion of our Initial
Public Offering. The loan of $170,256 was fully repaid upon the consummation of our Initial Public Offering on September