Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 656

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 4
Chunk 656
---
 from sale of units, net of underwriting discounts paid 
     —  
     67,965,000 
  
    Proceeds from sale of private placement units 
     —  
     3,945,000 
  
    Proceeds from promissory note - related party 
     2,207,860  
     100,085 
  
    Repayment of promissory note - related party 
     —  
     (3,500)
  
    Redemption payment to redeeming stockholders 
     (49,774,936) 
     — 
  
    Payment of offering costs 
     (75,000) 
     (581,635)
  
    Net cash (used in) provided by financing activities 
     (47,642,076) 
     71,424,950 

    Net Change in Cash and Restricted Cash 
     259,006  
     573,423 
  
    Cash and Restricted Cash – Beginning of period 
     607,816  
     34,393 
  
    Cash and Restricted Cash – End of period 
    $866,822  
    $607,816 

    Cash and Restricted Cash, end of period 

    Cash 
    $63,829  
    $607,816 
  
    Cash - restricted 
     802,993  
     — 
  
    Cash and Restricted Cash – End of period 
    $866,822  
    $607,816 

    Supplementary cash flow information: 

    Cash paid for income taxes 
    $347,716  
    $— 

    Non-Cash investing and financing activities: 

    Offering costs included in accrued offering costs 
    $—  
    $75,000 
  
    Excise tax payable 
    $497,749  
    $— 
  
    Remeasurement of Class A common stock subject to redemption value 
    $4,184,138  
    $7,852,179 
  
    Deferred underwriting fee payable 
    $—  
    $2,070,000 

The accompanying notes are an integral
part of these consolidated financial statements.

F-6

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS

Trailblazer Merger Corporation I (the “Company”,
“we”) is a blank check company incorporated in Delaware on November 12,