Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 710

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 5
Chunk 710
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,774,936, or approximately
$11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and the 4,520,384 shares of the Company’s
Class A common stock that were redeemed were cancelled.

On February 4, 2025, the Sponsor deposited $83,287
into the Company’s Trust Account to extend the Termination Date from January 31, 2025 to February 28, 2025.

On February 27, 2025, the Sponsor deposited $83,287
into the Company’s Trust Account to extend the Termination Date from February 28, 2025 to March 31, 2025.

We intend to use substantially all of the funds
held in the trust account, including any amounts representing interest earned on the trust account (less income taxes payable), to complete
our Business Combination. To the extent that our capital stock 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.

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of our officers and directors or their
affiliates may, but are not obligated to, loan us funds as may be required. If we complete a business combination, we would repay such
loaned amounts. In the event that a Business Combination does not close, we may use a portion of the working capital held outside the
trust account to repay such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $1,500,000 of
such Working Capital Loans (as defined below) may be convertible into Units of the post-business combination entity at a price of $10.00
per unit. The Units would be identical to the Private Units. As of December 31, 2024 and 2023, there was no amount outstanding under the
Working Capital Loan.

We will need to raise additional capital through
loans or additional investments from our Sponsor, stockholders, officers, directors, or third parties. Our officers, directors and Sponsor
may, but are not obligated to, loan us funds, from time to time or at any time, in whatever amount they deem reasonable in their sole
discretion, to meet our working capital