Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 861

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 6
Chunk 861
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 Company complies with the requirements of
the ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering”.
Offering costs consist principally of professional and registration fees, cash underwriting discount, and deferred underwriting fees incurred
through the balance sheet date that are related to the Initial Public Offering. Offering costs were allocated to the separable financial
instruments issued in the Initial Public Offering based on relative fair value basis, compared to total proceeds received. Offering costs
allocated to the Public Shares were charged to temporary equity and offering costs allocated to Public Rights (as defined in Note 3)
were charged to stockholders’ deficit upon the completion of the Initial Public Offering. Offering costs paid during the period
ended December 31, 2024 and 2023 were $75,000 and $581,635, respectively.

Class A Redeemable Stock Classification

The Public Shares contain a redemption feature
which allows for the redemption of such Public Shares in connection with the Company’s liquidation, or if there is a stockholder
vote or tender offer in connection with the Company’s initial business combination. In accordance with ASC 480-10-S99, the Company
classifies Public Shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control
of the Company. The Public Shares sold as part of the Units in the Initial Public Offering were issued with other freestanding instruments
(i.e., Public Rights) and as such, the initial carrying value of Public Shares classified as temporary equity are the allocated proceeds
determined in accordance with ASC 470-20. The Company recognizes changes in redemption value immediately as it occurs and will adjust
the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing
of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in
the carrying value of redeemable shares will result in charges against additional paid-in capital and accumulated deficit. Accordingly,
at December 31, 2024 and 2023, Class A common stock subject to possible redemption is presented at redemption value as temporary
equity, outside of the stockholders’ deficit section of the Company’s consolidated balance sheets.

F-12

At December 31, 2024 and 2023, the Class A
common stock subject to possible redemption reflected in the