Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 144

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 144
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 such transaction (other than payments of interest or dividends and any
contingent or earnout consideration based upon future performance of the combined companies, however characterized), including, without
limitation, to the extent applicable, any net value paid in respect of (i) the assets of the target and (ii) the capital stock
of the target (and the spread value of any “in the money” securities convertible into options, warrants or other rights to
acquire such capital stock), after giving effect to the assumption, retirement or defeasance, directly or indirectly (by operation of
law or otherwise), of any long-term liabilities of the target or repayment of indebtedness, including, without limitation, indebtedness
secured by the assets of the target, capital leases or preferred stock obligations; provided, that for the avoidance of doubt, any funds
in the trust account (as may be applicable in the case of a Transaction) or financing proceeds raised in connection with the closing
of the transaction (including by way of an offering, the compensation to underwriters for which is provided for below), in either case,
that are not paid to the target’s stockholders as consideration in the transaction will not be included as part of the Total Consideration.

For
purposes of this section, the market value of any publicly traded common stock, whether already outstanding or newly-issued, will be
equal to the greater of: (i) the value of such common stock issued to the target upon the closing of a transaction at a price equal
to $10.00 per share; and (ii) the dollar volume-weighted average price (VWAP) for such security on the principal securities exchange
or securities market on which such security is then traded during the period beginning at 9:30:01 a.m., New York time, and ending
at 4:00:00 p.m., New York time, as reported by Bloomberg through its “HP” function (set to weighted average) for the
first five (5) trading days following the consummation of the transaction.

Additionally,
we agreed to reimburse the underwriters for all out-of-pocket documented costs and expenses (including fees and expenses of counsel)
incurred by the underwriters in connection with provision of such services, up to $50,000 in the aggregate, and, upon the consummation
of the initial business combination, to reimburse the underwriters for any such expenses incurred in excess of $50