Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 5

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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, Trailblazer
Merger Sub Ltd, an Israeli company and a direct, wholly owned subsidiary of the Company incorporated on June 25, 2024, and Trailblazer
Holdings, Inc. (“Holdings”), a Delaware corporation and a direct, wholly owned subsidiary of the Company incorporated on July
16, 2024. On July 22, 2024, the Company entered into a merger agreement, by and among Company, Trailblazer Merger Sub, Ltd., Holdings,
and Cyabra Strategy Ltd., a private company organized in Israel (“Cyabra”) (as it may be amended and/or restated from time
to time, the “Merger Agreement”). In the Merger Agreement. the Business Combination transaction is structured as follows:
(a) the Company shall merge with and into Holdings and Holdings shall be the survivor of such merger and (b) the merger subsidiary of
the Company shall merge with and into the target, Cyabra, with Cyabra being the surviving entity, following which the merger subsidiary
will cease to exist and Cyabra will become a wholly owned subsidiary of Holdings. Holdings will be the public company following the closing
of the Business Combination. 

As
of March 31, 2025, the Company has not yet commenced any operations. All activity for the period November 12, 2021 (inception) through
March 31, 2025 relates to the Company’s formation and the initial public offering (the “Initial Public Offering”),
which is described below. The Company will not generate any operating revenues until after the completion of a Business Combination,
at the earliest. The Company generates non-operating income in the form of interest income from the proceeds derived from the Initial
Public Offering. The Company has selected December 31 as its fiscal year end.

The
registration statement for the Company’s Initial Public Offering was declared effective on March 28, 2023. On March 31,
2023, the Company consummated the Initial Public Offering of 6,900,000 units (the “Units” and, with respect to the shares
of Class A common stock included in the Units being offered, the “Public Shares”), which includes the full exercise
by the underwriters of their over-allotment option in the amount of 900,000 Units, at $10.00 per Unit, generating gross proceeds of $69,000,000
which is described in Note 3.

Simultaneously
with the closing