Company: TBMC
Filing Date: 2025-11-28
Form Type: 425
Source: 0001213900-25-115990
Chunk: 1

Company: Trailblazer Merger Corp I
Filing Date: 2025-11-28
Form: 425
Chunk 1
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 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

As of November 24, 2025, Trailblazer Merger Corporation I (the “Company”) entered into an amendment (the “Amendment”) to the Second Amended and Restated Promissory Note (the “Note”) with Trailblazer Sponsor Group, LLC, pursuant to which the amount of the Note was increased by $250,000 to $4,580,000.

A copy of the Amendment is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosures set forth in this Item 1.01 are intended to be summaries only and are qualified in their entirety by reference to the Amendment.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosure contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On November 25, 2025,Trailblazer Merger Corporation I (the “ Company”) received a letter from Nasdaq (the “ Notice”) which notified the Company that, for 30 consecutive business days, the Company’s market value of listed securities (“ MVLS”) closed below the $50,000,000 MVLS threshold required for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(2)(A) (the “ MVLS Rule”).

In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days, or until May 24, 2026 (the “ MVLS Compliance Period”), to regain compliance with the MVLS Rule. The Notice notes that, to regain compliance, the Company’s MVLS must close at or above $50