Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 1558

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 13
Chunk 1558
---
 $497,749  
    $— 
  
    Remeasurement of Class A common stock subject to redemption value 
    $4,184,138  
    $7,852,179 
  
    Deferred underwriting fee payable 
    $—  
    $2,070,000 

The accompanying notes are an integral
part of these consolidated financial statements.

F-6

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS

Trailblazer Merger Corporation I (the “Company”,
“we”) is a blank check company incorporated in Delaware on November 12, 2021. The Company was formed for the purpose
of effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination
with one or more businesses (the “Business Combination”).

As of December 31, 2024, the Company has two subsidiaries,
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. Holdings will be the public company following the closing of the Business Combination. 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 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