Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 697

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 5
Chunk 697
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 to as our initial business combination.

On March 31, 2023, the Company
consummated the IPO of 6,900,000 Units, which includes the full exercise by the underwriters of their over-allotment option in the amount
of 900,000 Units. Each Unit consisted of one Common Stock and one Right to receive one-tenth (1/10) of one share of Common Stock upon
the consummation of an initial business combination. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds
of $69,000,000.

Simultaneously with the closing
of the IPO, the Company consummated the Private Placement with the Sponsor, 394,500 Private Units generating total proceeds of $3,945,000.
The Private Units are identical to the Units sold in the IPO. The Sponsor agreed not to transfer, assign or sell any of the Private Units
or underlying securities (except in limited circumstances, as described in the registration statement) until the completion of the Company’s
initial business combination. The holders of the Private Units were granted certain demand and piggyback registration rights in connection
with the purchase of the Private Units. The Private Units were issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended,
as the transaction did not involve a public offering.

Purchases of Equity Securities by the Issuer
and Affiliated Purchasers

None.

ITEM 6. [RESERVED]

9

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Annual Report includes
“forward-looking statements” that are not historical facts and involve risks and uncertainties that could cause actual results
to differ materially from those expected and projected. All statements, other than statements of historical fact included in this Annual
Report including, without limitation, statements in this “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” regarding the Company’s financial position, business strategy and the plans and objectives of management
for future operations, are forward-looking statements. Words such as “expect,” “believe,” “anticipate,”
“intend,” “estimate,” “seek” and variations and similar words and expressions are intended to identify
such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect management’s
current beliefs, based on information currently available. A number of factors could cause