Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 8

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 Placement Units) and any Public Shares purchased during
or after the Initial Public Offering in favor of approving a Business Combination. Additionally, each Public Stockholder may elect to
redeem their Public Shares irrespective of whether they vote for or against the proposed transaction or don’t vote at all.

Notwithstanding
the above, if the Company seeks stockholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender
offer rules, the Amended and Restated Certificate of Incorporation provides that a Public Stockholder, together with any affiliate of
such stockholder or any other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with
respect to more than an aggregate of 15% or more of the Public Shares, without the prior consent of the Company.

The
Sponsor has agreed (a) to waive its redemption rights with respect to its Founder Shares and Public Shares held by it in connection
with the completion of a Business Combination, (b) to waive its liquidation rights with respect to the Founder Shares if the Company
fails to complete a Business Combination within the Combination Period, as defined below, and (c) not to propose an amendment to
the Amended and Restated Certificate of Incorporation (i) to modify the substance or timing of the Company’s obligation to
allow redemption in connection with the Company’s initial Business Combination or to redeem 100% of its Public Shares if the Company
does not complete a Business Combination or with respect to any other provision relating to stockholders’ rights or pre-initial
business combination activity, unless the Company provides the Public Stockholders with the opportunity to redeem their Public Shares
in conjunction with any such amendment.

On
February 29, 2024, the board of directors approved the exercise by the Company of the automatic extension of the time the Company has
to complete a business combination by an additional three months from March 31, 2024 to June 30, 2024. On June 25, 2024, the board of
directors approved the exercise by the Company of the automatic extension of the time the Company has to complete a business combination
by an additional three months from June 30, 2024 to September 30, 2024. Pursuant to the terms of the Company’s Am