Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 130

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 130
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Sub shall merge with and into Cyabra, with Cyabra being the surviving entity (the “Acquisition Merger” and, together with
the Parent Merger and all other transactions contemplated by the Merger Agreement, the “Business Combination”), following
which Merger Sub will cease to exist and Cyabra will become a wholly owned subsidiary of Holdings (the “Surviving Corporation”).
In connection with the Business Combination, Holdings (at such stage, referred to herein as the “Combined Company”) will
be renamed “Cyabra, Inc.”

At
the effective time of the Parent Merger, (i) each then issued and outstanding share of Trailblazer Class A Common Stock, par
value $0.0001 per share (the “Trailblazer Class A Common Stock”), shall convert automatically into one share of common
stock of Holdings, $0.0001 par value per share (the “Holdings Common Stock”) and (ii) each then issued and outstanding
right to acquire one tenth of one share of Trailblazer Class A Common Stock upon the consummation of an initial business combination
(a “Trailblazer Right” or “Right”), shall convert automatically into one right to acquire one tenth of one share
of Holdings Common Stock. The one share of Trailblazer Class B Common Stock issued and outstanding will automatically be canceled
at the time of the Parent Merger.

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At
the effective time of the Acquisition Merger (the “Effective Time”), (i) each Cyabra ordinary share, NIS 0.01 par value
per share (the “Cyabra Ordinary Shares”) issued and outstanding immediately prior to the Effective Time, in accordance with
Cyabra’s Amended and Restated Articles of Association (the “Articles of Association”), shall be converted into the
right to receive a number of shares of Holdings Common Stock equal to the quotient obtained by dividing (a) the Aggregate Merger
Consideration by Cyabra’s outstanding shares, on a fully-diluted basis (the “Conversion Ratio”), (ii) each
Cyabra Preferred Share issued and outstanding immediately prior to the Effective Time (other than the Series B Preferred Shares
of Cyabra issued to the holders upon conversion of the 2024 Convertible Notes as described below) shall be converted into the right to
receive a number of shares of Holdings Common Stock equal to (A) the Conversion Ratio multiplied by (B) the number of