Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 682

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 4
Chunk 682
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, Cyabra shall use reasonable
best efforts to cause certain Cyabra securityholders to enter into a Lock-Up Agreement with the Company to be effective as of the Closing,
pursuant to which the shares comprising the Aggregate Merger Consideration shall be subject to a lock-up, restricting the sale, transfer
or other disposition of such shares for a period of nine months in accordance with the terms and conditions more fully set forth in the
form of Lock-Up Agreement.

Registration Rights Agreement

The Merger Agreement contemplates that, at the
Closing, Pubco, the Sponsor and certain former shareholders of Cyabra (collectively, the “Holders”) will enter into a registration
rights agreement (the “Registration Rights Agreement”), pursuant to which Pubco will agree to register for resale, pursuant
to Rule 415 under the Securities Act, certain of the Company Common stock, the Company Units and the Company Rights that are held by the
Holders from time to time.

The Registration Rights Agreement will terminate
on the earlier of (a) the five year anniversary of the date of the Registration Rights Agreement or (b) the date as of which (i) all of
the Registrable Securities have been sold pursuant to a Registration Statement or (ii) the Holders of all Registrable Securities are permitted
to sell the Registrable Securities under Rule 144 (or any similar provision) under the Securities Act without limitation on the amount
of securities sold or the manner of sale and without compliance with public reporting requirements.

The PIPE Investment

The Company will enter into subscription agreements
with certain investors providing for aggregate investments in the amount of no less than $6,000,000 in the Company Common Stock in a private
placement that will close concurrently with the Closing (the “PIPE Investment”).

In the event that in excess of $3,500,000 remains in the Trust Account
after redemption of the Company Class A Common Stock in connection with the Merger, the PIPE Investment shall be reduced by the amount
by which the Trust Account exceeds $3,500,000. Further, up to $1,000,000 of the PIPE Investment may be provided upon the initial filing
of the Registration Statement with the Securities and Exchange Commission, if mutually agreed upon between the parties. To date, none
of the PIPE Investment has been provided.

F-19

NOTE 7.  STOCKHOLDERS’ DEFICIT

Preferred Stock — The
Company is authorized to issue 1,000,000