Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 268

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 268
---

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 Strategy Ltd. (“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.

As of December 31, 2024, the Company has not yet
commenced any operations. All activity for the period November 12, 2021 (inception) through December 31, 2024 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 will generate 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 of the Initial
Public Offering, the Company consummated the sale of 394,500 units (the “Placement Units”) at a price of $10.00 per Placement
Unit, in a private placement to Trailblazer Sponsor Group, LLC (the “Sponsor”), generating gross proceeds of $3,945,000, which
is described in Note 4.

Transaction costs amounted to $3,971,262 consisting
of $1,035,000 of cash underwriting discount, $2,070,000 of deferred underwriting fees, and $866,262 of other offering costs. The allocated
value of transaction costs to Class A common stock amounted to $89,233.

Following the closing of the Initial Public Offering
on March 31,