Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 1403

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 10
Chunk 1403
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, Trailblazer Merger Sub, Ltd., an Israeli company and a direct, wholly owned subsidiary of the Company
(“Merger Sub”), Trailblazer Holdings, Inc., a Delaware corporation and a direct, wholly owned subsidiary of the Company (“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”).

The Merger Agreement provides that, among other
things and upon the terms and subject to the conditions thereof, (a) the Company shall merge with and into Holdings and Holdings shall
be the survivor of such merger (the “Company Merger” and all references to the Company subsequent to the Company Merger shall
be intended to refer to Holdings as the survivor of the Company Merger) and (b) Merger Sub shall merge with and into Cyabra, with Cyabra
being the surviving entity (the “Merger”), following which Merger Sub will cease to exist and Cyabra will become a wholly
owned subsidiary of the Company (the “Surviving Corporation”). In connection with the Merger, the Company will be renamed
“Cyabra, Inc.” (“Pubco”).

F-18

On November 11, 2024, the parties thereto amended
the Merger Agreement to: (i) increase the size of the Trailblazer Board from five directors to seven directors; (ii) remove the director
election proposal from the Required Parent Proposals (as defined in the Merger Agreement); (iii) increase the size of the 2024 Plan from
10% to 15% due to the fact that certain previously contemplated grants will be included as part of the 2024 Plan; (iv) amend the provision
related to the share grant to the Cyabra Key Employees to clarify that such grant may be subject to additional vesting conditions as agreed
upon between the respective Cyabra Key Employee and Cyabra; and (v) amend the outside closing date from December 31, 2024 to March 1,
2025.

Parent Support Agreement

Contemporaneously with the execution of, and as
a condition and an inducement to the Company and Cyabra entering into the Merger Agreement, the Sponsor and certain other stockholders
of the Company are entering into and delivering the Parent Support Agreement (the “Parent Support Agreement”), pursuant to
which the Sponsor and each such Company stockholder have agreed (