Company: BLZRW
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001213900-25-080183
Chunk: 118

Company: Trailblazer Acquisition Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 118
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 Class A ordinary share(1)   |     | $ |       10.00 |
| Sponsor’s investment per Class B ordinary share(2)              |     | $ |       0.004 |
| Initial implied value per public share                          |     | $ |        9.60 |
| Implied value per public share upon business combination        |     | $ |        7.68 |

____________ (1)While the public shareholders’ investment is in both the public shares and the public warrants, for purposes of this table the full investment amount is ascribed to the public shares only. (2)The total investment in the equity of the company by the sponsor and Cantor Fitzgerald & Co. is $6,025,000, consisting of (i) $25,000 paid by the sponsor for the founder shares, (ii) $4,000,000 paid by the sponsor for 2,666,667 private placement warrants and (iii) $2,000,000 paid by Cantor Fitzgerald & Co. for 1,333,333 private placement warrants. For purposes of this table, the full investment amount is ascribed to the founder shares only. (3)All founder shares would automatically convert into Class A ordinary shares upon completion of our initial business combination or earlier at the option of the holder. Based on these assumptions, each Class A ordinary share would have an implied value of $7.68 per share upon completion of our initial business combination, representing an approximately 20.0% decrease from the initial implied value of $9.60 per public share. While the implied value of $7.68 per Class A ordinary share upon completion of our initial business combination would represent a dilution to our public shareholders, this would represent a significant increase in value for our sponsor relative to the price it paid for each founder share. At $7.68 per Class A ordinary share, the 5,500,000 Class A ordinary shares that the sponsor would own upon completion of our initial business combination

78 (after automatic conversion of the 5,000,000 founder shares) would have an aggregate implied value of $38,400,000. As a result, even if the trading price of our Class A ordinary share significantly declines, the value of the founder shares held by our sponsor will be significantly greater than the amount our sponsor paid to purchase such shares. In addition, our sponsor could potentially recoup its entire investment in our company even if the trading price of our Class A ordinary shares