# EDGAR Filing Document

**Accession Number:** 0002075310
**File Stem:** 0001213900-25-086314
**Filing Date:** 2025-9
**Character Count:** 39692
**Document Hash:** 366b5049885a0ec346fb8c5fa56ab96d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-086314.hdr.sgml**: 20250909

**ACCESSION NUMBER**: 0001213900-25-086314

**CONFORMED SUBMISSION TYPE**: S-1MEF

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20250909

**DATE AS OF CHANGE**: 20250909

**EFFECTIVENESS DATE**: 20250909

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Trailblazer Acquisition Corp.
- **CENTRAL INDEX KEY:** 0002075310
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1MEF
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-290146
- **FILM NUMBER:** 251304461

**BUSINESS ADDRESS:**
- **STREET 1:** 152 WEST 57TH STREET, 27TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-621-8777

**MAIL ADDRESS:**
- **STREET 1:** 152 WEST 57TH STREET, 27TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**As filed with the Securities and Exchange Commission on September 9, 2025.**

**Registration No. 333-**

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**FORM S-1<br> REGISTRATION STATEMENT<br> UNDER<br> THE SECURITIES ACT OF 1933**

**Trailblazer Acquisition Corp.<br> (Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **6770** | **98-1868836** |
| (State or other jurisdiction of<br> incorporation or organization) | (Primary Standard Industrial<br> Classification Code Number) | (I.R.S. Employer<br> Identification Number) |

---

**152 West 57<sup>th</sup> Street, 27<sup>th</sup> Floor<br> New York, NY 10019<br> Tel: (212) 621-8777** 

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

**Eric Semler<br> Chief Executive Officer<br> 152 West 57<sup>th</sup> Street, 27<sup>th</sup> Floor<br> New York, NY 10019<br> Tel: (212) 621-8777**<br> (Name, address, including zip code, and telephone number, including area code, of agent for service)

*Copies to:*

---

| | | |
|:---|:---|:---|
| **Douglas S. Ellenoff<br> Stuart Neuhauser<br> Adam Berkaw<br> Ellenoff Grossman & Schole LLP<br> 1345 Avenue of the Americas 11<sup>th</sup> Floor<br> New York, New York 10105<br> (212) 370-1300** | **Simon Raftopoulos<br> Alexandra Low<br> Appleby (Cayman) Ltd.<br> 9<sup>th</sup> Floor<br> Nexus Way, Camana Bay,<br> Grand Cayman<br> KY1-1104<br> (345) 949-4900** | **Kevin E. Manz, Esq.<br> King & Spalding LLP<br> 1185 Avenue of the Americas,<br> 34<sup>th</sup> Floor<br> New York, New York 10036<br> (212) 556-2100** |

---

**Approximate date of commencement of proposed sale to the public:** As soon as practicable after the effective date of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box. ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☒ **333-288651**

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**The Registration Statement shall become effective upon filing with the Securities and Exchange Commission in accordance with Rule 462(b) under the Securities Act of 1933, as amended.**

**EXPLANATORY NOTE**

This Registration Statement on Form S-1 is being filed by Trailblazer Acquisition Corp., a blank check company incorporated as a Cayman Islands exempted company (the "Registrant"), pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and General Instruction V to Form S-1. This Registration Statement relates to the Registrant's Registration Statement on Form S-1, as amended (File No. 333-288651), initially filed by the Registrant on July 11, 2025 and declared effective, as amended, by the Securities and Exchange Commission on September 9, 2025 (the "Prior Registration Statement").

This Registration Statement covers the registration of an additional 4,600,000 of the Registrant's units, each consisting of one Class A ordinary share and one-third of one redeemable warrant to purchase a Class A ordinary share of the Registrant. The required opinions of counsel and related consents and accountant's consent are attached hereto and filed herewith. Pursuant to Rule 462(b), the contents of the Prior Registration Statement, including the exhibits thereto, are incorporated by reference into this Registration Statement.

**CERTIFICATION**

The Registrant hereby certifies to the Securities and Exchange Commission (the "Commission") that (1) it has instructed its bank to pay the filing fee set forth in Exhibit 107 filed herewith by a wire transfer of such amount to the Commission's account at U.S. Bank as soon as practicable (but no later than the close of business as of September 10, 2025), (2) it will not revoke such instructions, (3) it has sufficient funds in the relevant account to cover the amount of such filing fee and (4) it will confirm receipt of such instructions by its bank during regular business hours no later than September 10, 2025.

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 16. Exhibits and Financial Statement Schedules.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Exhibits*. All exhibits filed with or incorporated by reference in the Registration Statement on Form S-1 (SEC File No. 333-288651) are incorporated by reference into, and shall be deemed a part of, this Registration Statement, and the following additional exhibits are filed herewith, as part of this Registration Statement:

**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 5.1 | [Opinion of Ellenoff Grossman & Schole LLP](ea025673901ex5-1_trail.htm). |
| 5.2 | [Opinion of Appleby (Cayman) Ltd., Cayman Islands counsel to the Registrant](ea025673901ex5-2_trail.htm). |
| 23.1 | [Consent of Withum Smith+Brown, PC.](ea025673901ex23-1_trail.htm) |
| 23.2 | [Consent of Ellenoff Grossman & Schole LLP (included in Exhibit 5.1)](ea025673901ex5-1_trail.htm). |
| 23.3 | [Consent of Appleby (Cayman) Ltd. (included on Exhibit 5.2)](ea025673901ex5-2_trail.htm). |
| 107 | [Filing Fee Table](ea025673901ex-fee_trail.htm). |

---

**Signatures**

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in New York, New York, on the 9th day of September, 2025.

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| | |
|:---|:---|
| **Trailblazer Acquisition Corp.** | **Trailblazer Acquisition Corp.** |
| By: | /s/ Eric Semler |
| Name: | Eric Semler |
| Title: | Chief Executive Officer and Director |

---

**POWER OF ATTORNEY**

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

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| | | |
|:---|:---|:---|
| **Name** | **Position** | **Date** |
| /s/ Eric Semler | Chief Executive Officer and Director | September 9, 2025 |
| Eric Semler | (principal executive officer) |  |
| /s/ Eamon P. Smith | Chief Financial Officer | September 9, 2025 |
| Eamon P. Smith | (principal financial and accounting officer) |  |

---

**Authorized representative IN THE UNITED STATES**

Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, the undersigned has signed this registration statement, solely in its capacity as the duly authorized representative of Trailblazer Acquisition Corp., in New York, New York, on the 9th day of September, 2025.

---

| | |
|:---|:---|
| By: | /s/ Eric Semler |
| Name: | Eric Semler |
| Title: | Chief Executive Officer and Director |

---

## Exhibit 5.1

**Exhibit 5.1**

**Ellenoff Grossman & Schole LLP**

1345 Avenue of the Americas

New York, New York 10105

September 9, 2025

Trailblazer Acquisition Corp.

152 West 57<sup>th</sup> Street, 27<sup>th</sup> Floor<br> New York, NY 10019

Re: Registration Statement of Trailblazer Acquisition Corp. pursuant to Rule 462(b) under the Securities Act of 1933, as amended

Ladies and Gentlemen:

We have acted as United States counsel to Trailblazer Acquisition Corp., a Cayman Islands exempted company (the "Company") in connection with a registration statement on Form S-1 (the "462(b) Registration Statement") for the purpose of registering with the Securities and Exchange Commission (the "Commission") pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the "Act"), the sale by the Company of (a) up to 4,600,000 additional units of the Company, including the underwriter's over-allotment option (collectively the "Units"), with each Unit consisting of one Class A ordinary share of the Company, $0.0001 par value (the "Ordinary Shares") and one third of one redeemable warrant of the Company, with each whole warrant exercisable to purchase one Ordinary Share at a price of $11.50 per share (the "Warrants"). The 462(b) Registration Statement relates to the Company's Registration Statement on Form S-1, as amended (File No. 333-288651) initially filed by the Company with the Commission on July 11, 2025 (as amended, the "Registration Statement") and declared effective by the Commission on September 9, 2025. This opinion is being given in accordance with the Legal Matters section of the Registration Statement, as it pertains to the portions of New York law set forth below.

We have examined such documents and considered such legal matters as we have deemed necessary and relevant as the basis for the opinion set forth below. With respect to such examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as reproduced or certified copies, and the authenticity of the originals of those latter documents. As to questions of fact material to this opinion, we have, to the extent deemed appropriate, relied upon certain representations of certain officers and employees of the Company.

Based upon the foregoing, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Units.** When the 462(b) Registration Statement becomes effective under the Act, and when the offering is completed as contemplated by the Registration Statement and the 462(b) Registration Statement, the Units will be legally binding obligations of the Company, enforceable in accordance with their terms except: (a) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally and by general equitable principles (regardless of whether enforceability is considered in a proceeding in equity or at law); (b) as enforceability of any indemnification or contribution provision may be limited under the federal and state securities laws; (c) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor may be brought; and (d) we express no opinion as to whether a state court outside of the State of New York or a federal court of the United States would give effect to the choice of New York law provided for in the warrant agreement to be entered into by and between Continental Stock Transfer & Trust Company ("Continental"), as warrant agent, and the Company (the "Warrant Agreement").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Warrants.** When the 462(b) Registration Statement becomes effective under the Act, and when the Warrants underlying the Units are issued, delivered as part of the Units, as contemplated by the Registration Statement and the 462(b) Registration Statement, such Warrants will be legally binding obligations of the Company enforceable in accordance with their terms except: (a) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally and by general equitable principles (regardless of whether enforceability is considered in a proceeding in equity or at law); (b) as enforceability of any indemnification or contribution provision may be limited under the federal and state securities laws; (c) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor may be brought; (d) we express no opinion as to whether a state court outside of the State of New York or a federal court of the United States would give effect to the choice of New York law provided for in the Warrant Agreement; and (e) we have assumed the Exercise Price (as defined in the Warrant Agreement) will not be adjusted to an amount below the par value per Ordinary Share.

Notwithstanding anything in this letter which might be construed to the contrary, our opinion herein is expressed solely with respect to the laws of the State of New York. Our opinion is based on these laws as in effect on the date hereof and as of the effective date of the 462(b) Registration Statement, and we assume no obligation to revise or supplement this opinion after the effective date of the 462(b) Registration Statement should the law be changed by legislative action, judicial decision or otherwise. Where our opinions expressed herein refer to events to occur at a future date, we have assumed that there will have been no changes in the relevant law or facts between the date hereof and such future date. Our opinions expressed herein are limited to the matters expressly stated herein and no opinion is implied or may be inferred beyond the matters expressly stated. Not in limitation of the foregoing, we are not rendering any opinion as to the compliance with any other federal or state law, rule or regulation relating to securities, or to the sale or issuance thereof.

We hereby consent to the use of this opinion as an exhibit to the 462(b) Registration Statement, to the use of our name as your counsel and to all references made to us in the Registration Statement and the 462(b) Registration Statement and in the prospectus forming a part thereof. In giving this consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Act, or the rules and regulations promulgated thereunder. This opinion is given as of the effective date of the Registration Statement and the 462(b) Registration Statement, and we are under no duty to update the opinions contained herein.

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| |
|:---|
| Very truly yours, |
| /s/ Ellenoff Grossman & Schole LLP |
| Ellenoff Grossman & Schole LLP |

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## Exhibit 5.2

**Exhibit 5.2**

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| | |
|:---|:---|
| **Trailblazer Acquisition Corp.**<br> 71 Fort Street<br> PO Box 500<br> George Town<br> Grand Cayman KY1-1106<br> Cayman Islands | 9 September 2025 |

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| |
|:---|
| Cayman Office |
| Appleby (Cayman) Ltd. |
| 9<sup>th</sup> Floor, 60 Nexus Way |
| Camana Bay |
| PO Box 190 |
| Grand Cayman KY1-1104 |
| Cayman Islands |
| Tel +1 345 949 4900 |
| applebyglobal.com |
| Appleby (Cayman) Ltd. (the Legal Practice) is a company limited by shares incorporated in the Cayman Islands and approved and recognised under the Legal Practitioners (Incorporated Practice) Regulations 2006 (as amended). "Partner" is a title referring to a director, shareholder or an employee of the Legal Practice. A list of such persons can be obtained from your relationship partner. |

---

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| | |
|:---|:---|
| **TRAILBLAZER ACQUISITION CORP.** | **TRAILBLAZER ACQUISITION CORP.** |
| We have acted as counsel as to Cayman Islands law to Trailblazer Acquisition Corp. (the "**Company**") in connection with the Company's registration statement on Form S-1, including all amendments or supplements thereto, filed with the United States Securities and Exchange Commission (the "**Commission**") under the United States Securities Act of 1933, as amended (the "**Act**") (including its exhibits, the "**Registration Statement**") for the purposes of, registering with the Commission under the Act, the offering and sale to the public of: | We have acted as counsel as to Cayman Islands law to Trailblazer Acquisition Corp. (the "**Company**") in connection with the Company's registration statement on Form S-1, including all amendments or supplements thereto, filed with the United States Securities and Exchange Commission (the "**Commission**") under the United States Securities Act of 1933, as amended (the "**Act**") (including its exhibits, the "**Registration Statement**") for the purposes of, registering with the Commission under the Act, the offering and sale to the public of: |
| (a) | 24,000,000 units (or up to 27,600,000 units), if the underwriters option to purchase additional units is exercised in full, which the several underwriters for whom Cantor Fitzgerald & Co. is acting as representative ("**Representative**"), will have a 45-day option to purchase from the Company to cover over-allotments, if any) ("**Units**") at an offering price of US$10.00 per Unit, each Unit consisting of:: |
| (i) | one Class A ordinary share of a par value of US$0.0001 of the Company ("**Class A Ordinary Shares**"); and |
| (ii) | and one-third of one redeemable warrant, each whole warrant exercisable to purchase one Class A Ordinary Share at a price of US$11.50 per Class A Ordinary Share ("**Warrants**"); |
| (b) | all Class A Ordinary Shares and Warrants issued as part of the Units; and |
| (c) | all Class A Ordinary Shares that may be issued upon exercise of the Warrants included in the Units. |
| This opinion letter is given in accordance with the terms of the Legal Matters section of the Registration Statement. | This opinion letter is given in accordance with the terms of the Legal Matters section of the Registration Statement. |

---

Bermuda ■ British Virgin Islands ■ Cayman Islands ■ Guernsey ■ Hong Kong ■ Isle of Man ■ Jersey ■ Mauritius ■ Seychelles ■ Shanghai

![](ex5-2_001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Documents Reviewed

We have reviewed originals, copies, drafts or conformed copies of the following documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 The certificate of incorporation dated 9 June, 2025, and the memorandum and articles of association of
the Company as registered or adopted on 9 June, 2025. the amended and restated memorandum and articles of association of the Company as
adopted at the time the Registration Statement becomes effective (together, the "**Memorandum and Articles** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 The written resolutions of the board of directors of the Company dated 10 June, 2025 and on or about the
date the Registration Statement becomes effective (together, the "**Resolutions**") and the corporate records of the Company
maintained at its registered office in the Cayman Islands.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 A certificate of good standing with respect to the Company issued by the Registrar of Companies (the "**Certificate of Good Standing** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 The Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 A draft of the form of the unit certificate representing the Units (the "**Unit Certificate** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 A draft of the form of the warrant agreements and the warrant certificate constituting the Warrants (the
" **Warrant Documents** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 A draft of the underwriting agreement between the Company and the Representative.

The documents listed in paragraphs 1.5 to 1.7 inclusive above shall be referred to collectively herein as the "**Documents**".

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| | |
|:---|:---|
| 2 | **Assumptions** |

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The following opinions are given only as to, and based on, circumstances and matters of fact existing and known to us on the date of this opinion letter. These opinions only relate to the laws of the Cayman Islands which are in force on the date of this opinion letter. In giving the following opinions, we have relied (without further verification) upon the completeness and accuracy, as at the date of this opinion letter, and the Certificate of Good Standing. We have also relied upon the following assumptions, which we have not independently verified:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 The choice of laws of the State of New York as the governing law of the Documents has been made in good
faith and would be regarded as a valid and binding selection which will be upheld by the courts of the State of New York and any other
relevant jurisdiction (other than the Cayman Islands) as a matter of the State of New York and all other relevant laws (other than the
laws of the Cayman Islands).

Bermuda ■ British Virgin Islands ■ Cayman Islands ■ Guernsey ■ Hong Kong ■ Isle of Man ■ Jersey ■ Mauritius ■ Seychelles ■ Shanghai

![](ex5-2_001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 Copies of documents, conformed copies or drafts of documents provided to us are true and complete copies
of, or in the final forms of, the originals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 All signatures, initials and seals are genuine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 No invitation has been or will be made by or on behalf of the Company to the public in the Cayman Islands
to subscribe for any of the Units, the Warrants or the Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 No monies paid to or for the account of any party under the Documents or any property received or disposed
of by any party to the Documents in each case in connection with the Documents or the consummation of the transactions contemplated thereby
represent or will represent proceeds of criminal conduct or criminal property or terrorist property (as defined in the Proceeds of Crime
Act (As Revised) and the Terrorism Act (As Revised), respectively).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 There is nothing under any law (other than the laws of the Cayman Islands) which would or might affect
the opinions set out below. Specifically, we have made no independent investigation of the laws of New York.

Save as aforesaid we have not been instructed to undertake and have not undertaken any further enquiry or due diligence in relation to the transaction the subject of this opinion letter.

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| | |
|:---|:---|
| 3 | **OPINIONS** |

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Based upon, and subject to, the foregoing assumptions and the qualifications set out below, and having regard to such legal considerations as we deem relevant, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 The Company has been duly incorporated as an exempted company with limited liability and is validly existing
and in good standing with the Registrar of Companies under the laws of the Cayman Islands.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 The Class A Ordinary Shares to be offered and issued by the Company as contemplated by the Registration
Statement have been duly authorised for issue, and when issued by the Company against payment in full of the consideration as set out
in the Registration Statement and in accordance with the terms set out in the Registration Statement, such Class A Ordinary Shares will
be validly issued, fully paid and non-assessable. As a matter of Cayman Islands law, a share is only issued when it has been entered in
the register of members (shareholders).

Bermuda ■ British Virgin Islands ■ Cayman Islands ■ Guernsey ■ Hong Kong ■ Isle of Man ■ Jersey ■ Mauritius ■ Seychelles ■ Shanghai

![](ex5-2_001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 The execution, delivery and performance of the Unit Certificate and the Warrant Documents have been authorised
by and on behalf of the Company and, once the Unit Certificate and the Warrant Documents have been executed and delivered by any director
or officer of the Company, the Unit Certificate and the Warrant Documents will be duly executed and delivered on behalf of the Company
and will constitute the legal, valid and binding obligations of the Company enforceable in accordance with their terms.

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| | |
|:---|:---|
| 4 | **QUALIFICATIONS** |

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The opinions expressed above are subject to the following qualifications:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 The obligations assumed by the Company under the Documents will not necessarily be enforceable in all
circumstances in accordance with their terms. In particular:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) enforcement may be limited by bankruptcy, insolvency, liquidation, reorganisation, readjustment of debts
or moratorium or other laws of general application relating to protecting or affecting the rights of creditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) enforcement may be limited by general principles of equity. For example, equitable remedies such as specific
performance may not be available, inter alia, where damages are considered to be an adequate remedy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where obligations are to be performed in a jurisdiction outside the Cayman Islands, they may not be enforceable
in the Cayman Islands to the extent that performance would be illegal under the laws of that jurisdiction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) some claims may become barred under relevant statutes of limitation or may be or become subject to defences
of set off, counterclaim, estoppel and similar defences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 To maintain the Company in good standing with the Registrar of Companies under the laws of the Cayman
Islands, annual filing fees must be paid and returns made to the Registrar of Companies within the time frame prescribed by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 Under Cayman Islands law, the register of members (shareholders) is prima facie evidence of title to shares
and this register would not record a third party interest in such shares. However, there are certain limited circumstances where an application
may be made to a Cayman Islands court for a determination on whether the register of members reflects the correct legal position. Further,
the Cayman Islands court has the power to order that the register of members maintained by a company should be rectified where it considers
that the register of members does not reflect the correct legal position. As far as we are aware, such applications are rarely made in
the Cayman Islands and for the purposes of the opinion given in paragraph 3.2, there are no circumstances or matters of fact known to
us on the date of this opinion letter which would properly form the basis for an application for an order for rectification of the register
of members of the Company, but if such an application were made in respect of the Class A Ordinary Shares, then the validity of such shares
may be subject to re-examination by a Cayman Islands court.

Bermuda ■ British Virgin Islands ■ Cayman Islands ■ Guernsey ■ Hong Kong ■ Isle of Man ■ Jersey ■ Mauritius ■ Seychelles ■ Shanghai

![](ex5-2_001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 In this opinion letter the phrase "non-assessable" means, with respect to the issuance of
shares, that a shareholder shall not, in respect of the relevant shares and in the absence of a contractual arrangement, or an obligation
pursuant to the memorandum and articles of association, to the contrary, have any obligation to make further contributions to the Company's
assets (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper
purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement and to the references to our firm under the headings "Legal Matters", "Risk Factors", "Shareholders' Suits" and "Enforcement of Civil Liabilities" in the prospectus included in the Registration Statement. In providing our consent, we do not thereby admit that we are in the category of persons whose consent is required under section 7 of the Act or the Rules and Regulations of the Commission thereunder.

We offer no opinion: (i) as to any laws other than the laws of the Cayman Islands, and we have not, for the purposes of this opinion, made any investigation of the laws of any other jurisdiction, and we express no opinion as to the enforceability, meaning, validity, or effect of references in the Documents to statutes, rules, regulations, codes or judicial authority of any jurisdiction other than the Cayman Islands; or (ii) except to the extent that this opinion expressly provides otherwise, as to the commercial terms of, or the validity, enforceability or effect of the documents reviewed (or as to how the commercial terms of such documents reflect the intentions of the parties), the accuracy of representations, the fulfilment of warranties or conditions, the occurrence of events of default or terminating events or the existence of any conflicts or inconsistencies among the documents and any other agreements into which the Company may have entered or any other documents.

The opinions in this opinion letter are strictly limited to the matters contained in the opinions section above and do not extend to any other matters. We have not been asked to review and we therefore have not reviewed any of the ancillary documents relating to the Documents and express no opinion or observation upon the terms of any such document.

This opinion letter is addressed to you and may be relied upon by you, your counsel and purchasers of Units pursuant to the Registration Statement. This opinion letter is limited to the matters detailed herein and is not to be read as an opinion with respect to any other matter.

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| |
|:---|
| Yours faithfully |
| **/s/ Appleby (Cayman) Ltd.** |
| **Appleby (Cayman) Ltd.** |

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Bermuda ■ British Virgin Islands ■ Cayman Islands ■ Guernsey ■ Hong Kong ■ Isle of Man ■ Jersey ■ Mauritius ■ Seychelles ■ Shanghai

## Exhibit 23.1

**Exhibit 23.1**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the use in the Prospectus constituting a part of this Registration Statement on Form S-1 pursuant to rule 462(b) under the Securities Act of 1933, as amended, of our report dated July 11, 2025, relating to the financial statements of Trailblazer Acquisition Corp. as of June 30, 2025 and for the period June 9, 2025 (inception) through June 30, 2025 (which includes explanatory paragraph relating to Trailblazer Acquisition Corp's ability to continue as a going concern), which is contained in that Prospectus.

/s/ WithumSmith+Brown, PC

New York, New York

September 9, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-1**

**Trailblazer Acquisition Corp.**

**Table 1: Newly Registered and Carry Forward Securities**

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Line Item Type** | **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* |
| Fees to be Paid | Equity | Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-third of one redeemable warrant | (1) | 457(a) | 4600000 | $10.00 | $46000000.00 | 0.0001531 | $7043.00 |
| Fees to be Paid | Equity | Class A ordinary shares included as part of the units | (2) | 457(a) | 4600000 | 0.00 | 0.00 | 0.0001531 | 0.00 |
| Fees to be Paid | Equity | Redeemable warrants included as part of the units | (3) | 457(a) | 1533334 | 0.00 | 0.00 | 0.0001531 | 0.00 |
| Fees to be Paid | Equity | Class A ordinary shares underlying redeemable warrants included as part of the units | (4) | 457(a) | 1533334 | $11.50 | $17633341.00 | 0.0001531 | $2700.00 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $63633341.00 |  | 9743.00 |
| Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: |  |  | 0.00 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $9743.00 |

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**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Estimated solely for the purpose of calculating the registration fee. Represents only the additional number of securities being registered. Does not include the securities that the Registrant previously registered on the Registration Statement on Form S-1 (File No. 333- 288651). Pursuant to Rule 416, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions The Registrant previously registered securities having a proposed maximum aggregate offering price of $318,166,670.50 on its Registration Statement on Form S-1, as amended (File No. 333-288651), which was declared effective by the Securities and Exchange Commission on September 9, 2025. In accordance with Rule 462(b) under the Securities Act, an additional number of securities having a proposed maximum offering price of $63,633,341 is hereby registered, which includes securities issuable upon the exercise of the underwriters' over-allotment option.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Estimated solely for the purpose of calculating the registration fee. Represents only the additional number of securities being registered. Does not include the securities that the Registrant previously registered on the Registration Statement on Form S-1 (File No. 333- 288651). Pursuant to Rule 416, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions No fee pursuant to Rule 457(g). The Registrant previously registered securities having a proposed maximum aggregate offering price of $318,166,670.50 on its Registration Statement on Form S-1, as amended (File No. 333-288651), which was declared effective by the Securities and Exchange Commission on September 9, 2025. In accordance with Rule 462(b) under the Securities Act, an additional number of securities having a proposed maximum offering price of $63,633,341 is hereby registered, which includes securities issuable upon the exercise of the underwriters' over-allotment option.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Estimated solely for the purpose of calculating the registration fee. Represents only the additional number of securities being registered. Does not include the securities that the Registrant previously registered on the Registration Statement on Form S-1 (File No. 333- 288651). Pursuant to Rule 416, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions No fee pursuant to Rule 457(g). The Registrant previously registered securities having a proposed maximum aggregate offering price of $318,166,670.50 on its Registration Statement on Form S-1, as amended (File No. 333-288651), which was declared effective by the Securities and Exchange Commission on September 9, 2025. In accordance with Rule 462(b) under the Securities Act, an additional number of securities having a proposed maximum offering price of $63,633,341 is hereby registered, which includes securities issuable upon the exercise of the underwriters' over-allotment option.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Estimated solely for the purpose of calculating the registration fee. Represents only the additional number of securities being registered. Does not include the securities that the Registrant previously registered on the Registration Statement on Form S-1 (File No. 333- 288651). Pursuant to Rule 416, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions The Registrant previously registered securities having a proposed maximum aggregate offering price of $318,166,670.50 on its Registration Statement on Form S-1, as amended (File No. 333-288651), which was declared effective by the Securities and Exchange Commission on September 9, 2025. In accordance with Rule 462(b) under the Securities Act, an additional number of securities having a proposed maximum offering price of $63,633,341 is hereby registered, which includes securities issuable upon the exercise of the underwriters' over-allotment option.