Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 95

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 95
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 common stock, whether already outstanding or newly-issued, will be equal to the greater of: (i) the value of such
common stock issued to the target upon the closing of a transaction at a price equal to $10.00 per share; and (ii) the dollar volume-weighted
average price (VWAP) for such security on the principal securities exchange or securities market on which such security is then traded
during the period beginning at 9:30:01 a.m., New York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg through
its “HP” function (set to weighted average) for the first five (5) trading days following the consummation of the transaction.

Additionally, the Company agreed to reimburse
the underwriters for all out-of-pocket documented costs and expenses (including fees and expenses of counsel) incurred by the underwriters
in connection with provision of such services, up to $50,000 in the aggregate, and, upon the consummation of the initial business combination,
to reimburse the underwriters for any such expenses incurred in excess of $50,000.

Merger Agreement

On July 22, 2024, the Company entered into a merger
agreement, by and among Parent, 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
“Cy