Company: BLZRW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110002
Chunk: 56

Company: Trailblazer Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 56
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 redemption (if any) are classified as liability instruments
and measured at fair value. Conditionally redeemable Class A Ordinary Shares (including Class A Ordinary Shares that feature redemption
rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within
our control) are classified as temporary equity. At all other times, Class A Ordinary Shares are classified as shareholders’ equity.
All of the Public Shares feature certain redemption rights that are considered to be outside of our control and subject to the occurrence
of uncertain future events. Accordingly, Class A Ordinary Shares subject to possible redemption are presented at redemption value as
temporary equity, outside of the shareholders’ equity section of our unaudited condensed balance sheet included in this Report
under Item 1. “Financial Statements”.

Net
Income Per Ordinary Share

We
comply with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income per Ordinary
Share is computed by dividing net income applicable to shareholders by the weighted average number of Ordinary Shares outstanding for
the applicable periods. We apply the two-class method in calculating earnings per Ordinary Share and allocate net income pro rata to
Class A Ordinary Shares subject to possible redemption, nonredeemable Class A Ordinary Shares and Class B Ordinary Shares. Accretion
associated with the redeemable Class A Ordinary Shares is excluded from earnings per share as the redemption value is not in excess of
the fair value.

Recent
Accounting Standards

In
November 2023, the FASB issued ASU 2023-07. The amendments in ASU 2023-07 require disclosures, on an annual and interim basis, of
significant segment expenses that are regularly provided to the CODM, as well as the aggregate amount of other segment items included
in the reported measure of segment profit or loss. ASU 2023-07 requires that a public entity disclose the title and position of the CODM
and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding
how to allocate resources. Public entities will be required to provide all annual disclosures currently required by ASC 280 in interim
periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in ASU
2023-07 and existing segment disclosures in ASC 280. ASU 2023-07 is effective for fiscal years beginning after December