Company: TBMC
Filing Date: 2025-11-03
Form Type: 8-K
Source: 0001213900-25-105281
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Company: Trailblazer Merger Corp I
Filing Date: 2025-11-03
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

Advisory Agreements and Underwriting Agreement

In connection with the initial
business combination (the “ Business Combination”) with Cyabra Strategy Ltd. (“Cyabra”),
Trailblazer Merger Corporation I (the “Company”) has entered into certain deferred fee agreements.

(a)
Deferred Underwriting Commissions

Pursuant to the Underwriting
Agreement entered into on March 28, 2023 (the “Underwriting Agreement”), the Company agreed to pay the underwriters
deferred compensation in the amount of $2,070,000 upon the closing of the initial business combination.

On October 28, 2025, the
Company and the Underwriters entered into an agreement pursuant to which the parties have agreed that, in lieu of a cash payment, the
Company will pay each Underwriter 103,500 shares of common stock of the Company (the “ PubCo Shares”) as payment
for deferred underwriting commissions (the “Deferred Fee Agreement”).

(b)
Fee Agreements for Advisory Services

In addition, pursuant to
an advisory agreement between the Company and LifeSci Capital LLC (“ LifeSci”) entered into on September 23,
2022 (the “Advisory Agreement”), the Company agreed to pay LifeSci a fee equal to one and one half percent (1.5%)
of the total consideration in connection with the initial business combination in the form of equity interests in the surviving entity.

On October 28, 2025, the
Company, Trailblazer Sponsor Group LLC and LifeSci entered into an amendment (the “Amendment”) to the Advisory
Agreement pursuant to which LifeSci agreed to waive its advisory fee.

On October 28, 2025, the
Company entered into an advisory agreement (the “LifeSci Advisory Agreement”) with Cybra and LifeSci pursuant
to which LifeSci will provide certain financial advisory and investment banking services to Cyabra. In connection with such engagement,
LifeSci will receive a retainer fee of ordinary shares of Cyabra which will convert into 105,000 PubCo Shares upon the closing of the
Business Combination and an advisory fee of $1,050,00 paid in PubCo Shares 90 days after the closing of the Business Combination.

On October 28, 2025, Holdings
entered into an advisory agreement (the “Ladenburg Advisory Agreement”) with Cyabra and Ladenburg pursuant to
which Ladenburg will provide financial advisory and