Cyabra’s new EU public-sector deal as it pursues TBMC (NASDAQ: TBMC) merger

Rhea-AI Filing Summary

Cyabra Strategy Ltd., an AI-driven disinformation detection platform, announced it was selected by a national public institution in Southeastern Europe, expanding its public sector work on information integrity. The institution will use Cyabra to monitor social media, identify coordinated inauthentic behavior, and support evidence-based risk assessments.

Cyabra highlights growing public sector demand for neutral, auditable analysis of online manipulation that can affect public trust and safety. The company has a pending business combination with Trailblazer Merger Corporation I, for which a registration statement on Form S-4 with a proxy statement/prospectus has been filed to seek Trailblazer stockholder approval.

Filed by Trailblazer Merger Corporation I.

pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: Trailblazer Merger Corporation I

Commission File No. 001-41668

On February 2, 2026, Cyabra Strategy Ltd. Issued the following press release:

Cyabra Expands Public Sector Footprint With New European Customer

Cyabra to provide decision-grade intelligence on coordinated inauthentic behavior and synthetic influence online.

New York, NY - February 2, 2026 – Cyabra Strategy Ltd. (“Cyabra”), the AI-powered platform for real-time disinformation detection, announced today it has been selected by a national public institution in Southeastern Europe, expanding its work with government organizations focused on information integrity. The institution will use Cyabra to monitor social media for disinformation and coordinated manipulation, helping analysts detect emerging narratives earlier and support prevention and response workflows with evidence-based insights.

Disinformation and coordinated online manipulation have become a persistent operational risk for governments, enterprises, and civil society, accelerated by low-cost content generation and rapid cross-platform distribution. For public sector intelligence teams, the challenge is not only volume, but verification, linking activity to coordinated networks, and prioritizing credible leads. Cyabra helps organizations translate complex online behavior into decision-grade assessments that can be acted on quickly and documented for internal review.

The deployment supports multiple functions and underscores the institution’s need for neutral, auditable analysis in an increasingly complex digital landscape. The intelligence unit will apply Cyabra’s analysis to monitor suspicious actor behavior and emerging narratives that could undermine public trust, public safety, or institutional credibility.

“Public sector organizations are confronting a more contested and ambiguous information environment,” said Dan Brahmy, CEO of Cyabra. “This agreement reflects a shift toward evidence-based visibility into coordinated manipulation, so intelligence teams can prioritize real risk and respond with confidence.”

Cyabra has entered into a business combination agreement with Trailblazer Merger Corporation I (NASDAQ: $TBMC), a blank-check special-purpose acquisition company.

About Cyabra

Cyabra restores trust and authenticity for global enterprises and governments by analyzing actors, behaviors, and content, and translating evidence into clear mitigation steps at scale. The company provides decision-grade clarity in contested information environments, enabling institutions to respond proportionately and effectively to coordinated online manipulation.

For more information, visit www.cyabra.com.

Media Contact:

pr@cyabra.com

About Trailblazer

Trailblazer is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. For more information, visit: www.trailblazermergercorp.com

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to certain products and services that are the subject of a proposed transaction (the “Business Combination”) between Trailblazer and Cyabra. All statements other than statements of historical facts contained in this press release, including statements regarding Cyabra’s business strategy, products and services, research and development costs, plans and objectives of management for future operations, and future results of current and anticipated product offerings, are forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, the following risks relating to the proposed transaction: the ability to complete the Business Combination or, if Trailblazer does not consummate such Business Combination, any other initial business combination; expectations regarding Cyabra’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and Cyabra’s ability to invest in growth initiatives and pursue acquisition opportunities; the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; the outcome of any legal proceedings that may be instituted against Trailblazer or Cyabra following announcement of the Business Combination Agreement and the transactions contemplated therein; the inability to complete the proposed Business Combination due to, among other things, the failure to obtain Trailblazer stockholder approval; the risk that the announcement and consummation of the proposed Business Combination disrupts Cyabra’s current operations and future plans; the ability to recognize the anticipated benefits of the proposed Business Combination; unexpected costs related to the proposed Business Combination; the amount of any redemptions by existing holders of Trailblazer’s common stock being greater than expected; limited liquidity and trading of Trailblazer’s securities; geopolitical risk and changes in applicable laws or regulations; the size of the addressable markets for Cyabra’s products and services; the possibility that Trailblazer and/or Cyabra may be adversely affected by other economic, business, and/or competitive factors; the ability to obtain and/or maintain the listing of the combined company’s common stock on Nasdaq following the Business Combination; operational risk; and the risks that the consummation of the proposed Business Combination is substantially delayed or does not occur.

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Important Information for Investors and Stockholders

In connection with the Business Combination, Trailblazer Holdings, Inc., a subsidiary of Trailblazer (“Holdings”) has filed a registration statement on Form S-4 (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”), which includes a preliminary proxy statement/prospectus, and certain other related documents, which will be both the proxy statement to be distributed to holders of shares of Trailblazer’s common stock in connection with its solicitation of proxies for the vote by its stockholders with respect to the Business Combination and other matters as may be described in the Registration Statement, as well as the prospectus of Holdings relating to the offer and sale of its securities to be issued in the Business Combination. After the Registration Statement is declared effective, the proxy statement/prospectus will be sent to all Trailblazer stockholders so that they may vote on the Business Combination.

INVESTORS AND STOCKHOLDERS OF TRAILBLAZER ARE URGED TO READ CAREFULLY THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS, AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND THE PARTIES INVOLVED.

Trailblazer stockholders are currently able to obtain copies of the preliminary proxy statement/prospectus and other documents filed with the SEC that are incorporated by reference therein, and will be able to obtain the definitive proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference therein, once available, in all cases without charge, at the SEC’s web site at www.sec.gov, or by directing a request to: Trailblazer at 510 Madison Avenue, Suite 1401, New York, NY 10022, Telephone: 646-747-9618.

Participants in the Solicitation

Cyabra, Trailblazer, and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Trailblazer stockholders regarding the proposed Business Combination. Information about Trailblazer’s directors and executive officers and their ownership of Trailblazer’s securities is set forth in the proxy statement/prospectus pertaining to the proposed Business Combination.

No Offer or Solicitation

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, or a solicitation of any vote or approval. No sale of securities shall occur in any jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under applicable laws.

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FAQ

What did Cyabra announce in the February 2, 2026 update with TBMC?

Cyabra announced a new engagement with a national public institution in Southeastern Europe. The institution will use Cyabra’s AI-powered platform to monitor social media for disinformation, coordinated manipulation, and emerging narratives, helping intelligence teams generate decision-grade, evidence-based insights for prevention and response workflows.

How are Cyabra and Trailblazer Merger Corporation I (TBMC) connected?

Cyabra has a business combination agreement with Trailblazer Merger Corporation I. A subsidiary of Trailblazer, Trailblazer Holdings, Inc., filed a Form S-4 registration statement that includes a proxy statement/prospectus for Trailblazer stockholders regarding approval of the proposed business combination and related issuance of securities.

What will TBMC stockholders be asked to vote on in the Cyabra deal?

TBMC stockholders will be asked to vote on the proposed business combination with Cyabra. The Form S-4 registration statement includes a proxy statement/prospectus describing the transaction terms and related matters, which will be mailed to stockholders after the registration statement is declared effective for their consideration and voting.

How can Trailblazer (TBMC) investors access the Cyabra merger documents?

Investors can access the registration statement and proxy statement/prospectus through the SEC website. These documents are available without charge at www.sec.gov, and Trailblazer also provides copies upon request through its New York office, giving stockholders detailed information about the proposed business combination with Cyabra.

What services will Cyabra provide to the new European public institution?

Cyabra will monitor social media for disinformation and coordinated inauthentic behavior. Its platform analyzes actors, behaviors, and content to surface suspicious networks and emerging narratives, giving public sector intelligence teams decision-grade assessments that can be acted on quickly and documented for internal review.

What risks and forward-looking factors are highlighted for the TBMC–Cyabra merger?

The disclosure lists numerous risks that could affect the proposed business combination. These include the ability to complete the merger, stockholder approval, potential legal proceedings, redemptions of Trailblazer shares, market and geopolitical conditions, regulatory changes, and the possibility that anticipated benefits of the transaction may not be realized.