Welcome to our dedicated page for Trailblazer Merger Corporation I SEC filings (Ticker: TBMCR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings page for Trailblazer Merger Corporation I (rights trading under TBMCR) provides direct access to the company’s regulatory disclosures as it pursues an initial business combination. As a blank check company and emerging growth company with securities listed on The Nasdaq Stock Market LLC, Trailblazer Merger Corporation I reports key developments through current reports on Form 8-K, annual reports on Form 10-K, and registration statements related to its proposed merger.
In its Form 8-K filings, the company describes extensions of its business combination period, including stockholder-approved amendments to its amended and restated certificate of incorporation and the deposits made into its trust account to fund monthly extensions. These filings also summarize a Second Amended and Restated Promissory Note with Trailblazer Sponsor Group, LLC, under which the maturity date is tied to the closing of the initial business combination and the outstanding principal will convert into preferred stock at closing.
Another focus of Trailblazer Merger Corporation I’s SEC filings is its merger agreement with Cyabra Strategy Ltd., Trailblazer Merger Sub, Ltd., and Trailblazer Holdings, Inc. The company has filed a registration statement on Form S-4 that includes a preliminary proxy statement/prospectus for shareholders to evaluate the proposed transaction, under which Parent will merge with and into Holdings and Merger Sub will merge with and into Cyabra Strategy Ltd., with Parent expected to be renamed Cyabra, Inc. after completion.
On Stock Titan, these filings are updated in near real time from EDGAR and paired with AI-powered summaries that highlight the key terms, timelines, and risks described in documents such as 8-Ks, the Form S-4 proxy statement/prospectus, and the company’s Form 10-K. Users can quickly see how extensions, financing arrangements, and the proposed merger structure may affect TBMCR rights and TBMC common stock, without reading every page of each filing.
Trailblazer Merger Corporation I stockholders approved the proposed business combination with Cyabra Strategy Ltd. at a special meeting held on February 18, 2026. About 89.80% of outstanding common shares were represented, providing a strong quorum.
The core merger proposal passed with 2,195,659 votes in favor, compared with 6,046 against. Stockholders also approved the new Cyabra, Inc. charter, a package of nine governance provisions, Nasdaq-related share issuance proposals, and a 2026 omnibus equity incentive plan. An adjournment proposal received sufficient support but was not needed because all other items passed.
Trailblazer Merger Corporation I entered into an amendment to its Second Amended and Restated Promissory Note with Alpha Capital Anstalt, increasing the note amount by $500,000 to $5,330,000 as of February 11, 2026. This amendment creates a direct financial obligation for the company.
The filing also reiterates details of the planned business combination with Cyabra Strategy Ltd., under which the surviving public company will be renamed Cyabra, Inc., and reminds shareholders that a Form S-4 registration statement and related proxy statement/prospectus have been filed for their review before voting on the merger.
Trailblazer Merger Corp I received an amended Schedule 13G/A from AQR investment entities indicating they no longer beneficially own its Class A common stock. The filing reports that AQR Capital Management, LLC, AQR Capital Management Holdings, LLC, and AQR Arbitrage, LLC each hold 0 shares, representing 0% of the class.
The report confirms these securities were acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of the company. Each AQR entity also reports no sole or shared power to vote or dispose of any Trailblazer Merger Corp I shares.
Trailblazer Merger Corporation I reported leadership changes and reiterated information about its planned business combination with Cyabra Strategy Ltd. On January 20, 2026, Arie Rabinowitz resigned as a director and as Chief Executive Officer of Trailblazer Merger Corporation I and also stepped down as Chief Executive Officer and sole director of its subsidiary, Trailblazer Holdings, Inc. The company states his resignation did not result from any disagreement with management or the board.
On January 21, 2026, the board appointed Yosef Eichorn as Chief Executive Officer of Trailblazer Merger Corporation I and as Chief Executive Officer and sole director of Trailblazer Holdings, Inc. He is currently the company’s Chief Development Officer and Vice President of Investments at LHX, with prior roles at LH Financial in research, compliance, and investments. The filing notes that Mr. Eichorn is the son-in-law of Mr. Rabinowitz.
The company also reminds shareholders of its previously announced merger agreement involving Trailblazer Merger Corporation I, Trailblazer Merger Sub, Ltd., Trailblazer Holdings, Inc. and Cyabra Strategy Ltd., under which Cyabra would become a wholly owned subsidiary and the combined entity is expected to be renamed Cyabra, Inc. The transaction will be submitted to shareholders for approval, and a registration statement on Form S-4 with a proxy statement/prospectus has been filed with the SEC.
Trailblazer Merger Corporation I is asking shareholders to approve its business combination with Israeli company Cyabra Strategy Ltd., creating a new parent, Trailblazer Holdings, Inc., which will be renamed Cyabra, Inc. and is expected to list on Nasdaq. The deal is structured so Trailblazer first merges into Holdings, then a subsidiary merges with Cyabra, leaving Cyabra as a wholly owned subsidiary.
Cyabra shareholders will receive 10,600,000 shares of Holdings common stock (including shares underlying Series A preferred issued on note conversions), plus up to 3,000,000 earnout shares tied to future stock price targets, and 400,000 shares for key employees under a 2026 equity plan. A PIPE financing of at least $6 million in Series B preferred will close with the merger, but is reduced if more than $3.5 million remains in Trailblazer’s trust.
Public shareholders can redeem their Class A shares for cash from the trust (about $11.98 per share based on $3.99 million as of early January 2026) regardless of how they vote. Sponsor and insiders own about 86.4% of outstanding shares, have agreed to vote for the deal, and would lose their founder and private placement securities if no transaction occurs, creating potential conflicts that are highlighted in the document. The board unanimously recommends the merger and obtained a fairness opinion from Roth Capital Partners.
Trailblazer Merger Corporation I has extended the deadline to complete its initial business combination to September 30, 2025. The company funded this latest one‑month extension by depositing $83,286.56 into its trust account, moving the prior August 31, 2025 deadline out by another month.
The filing also reiterates that Trailblazer has a signed merger agreement with Cyabra Strategy Ltd., under which Cyabra would become a wholly owned subsidiary of a renamed public company, Cyabra, Inc., following a series of merger steps. The proposed transaction will be submitted to shareholders for approval via a proxy statement/prospectus on Form S‑4 once the registration statement is declared effective.
Kerry Propper and Antonio Ruiz-Gimenez report shared beneficial ownership of 237,144 Class A shares of Trailblazer Merger Corporation I, equal to 5.3% of the outstanding class based on 4,499,115 shares. The shares are held by private funds managed by ATW SPAC Management LLC and SZOP Multistrat Management LLC, whose managing members are the reporting persons, and the report attributes shared voting and dispositive power to them.
The filers state they have no sole voting or dispositive power, disclaim direct beneficial ownership except for any pecuniary interest, and certify the securities were acquired and are held in the ordinary course of business and not to change or influence control of the issuer.
Trailblazer Merger Corporation I is a blank check company formed to complete a business combination. The company holds $27,472,636 in marketable securities in a Trust Account and reported $1,326,166 of cash and restricted cash at June 30, 2025. For the six months ended June 30, 2025 the company recorded a $691,082 net loss, increasing its accumulated deficit to $(7,581,390). Related-party borrowings under a promissory note totaled $3,741,731 as of June 30, 2025.
The company entered into a merger agreement with Cyabra Strategy Ltd. and contemplates a PIPE of at least $6,000,000 to close concurrently with the merger. Management discloses substantial doubt about the company’s ability to continue as a going concern if a business combination is not completed by the Termination Date, which was extended through actions described in the filing and further extended into July/August 2025 by sponsor deposits.
Trailblazer Merger Corp I's Schedule 13G/A shows TD Securities (USA) LLC beneficially owns 173,786 shares of the issuer's Class A common stock, equal to 3.9% of the class based on the 06/30/2025 event. TD Securities reports sole voting and sole dispositive power over these shares. The filing is joint with Toronto Dominion Holdings USA Inc., TD Group US Holdings LLC and Toronto Dominion Bank, which disclose indirect interests and disclaim direct ownership. The statement was executed under a joint filing agreement dated August 12, 2025 and filed under Rule 13d-1(b) as a bank.
Trailblazer Merger Corporation I is asking stockholders to approve amendments that would let the board extend the deadline to complete a business combination up to six one‑month extensions if needed. The company has a signed Merger Agreement (July 22, 2024) to combine with Cyabra Strategy Ltd., which would leave Cyabra as a wholly owned subsidiary and rename the combined company "Cyabra, Inc."
The filing discloses key facts: the trust account previously funded with approximately $70,380,000, a prior redemption on October 9, 2024 withdrew $49,774,936, and on the Record Date there were 4,449,116 total shares outstanding (including 2,329,616 Public Stock and 2,119,499 Private Shares held by the Sponsor). The Sponsor beneficially owned approximately 47.11% and has repeatedly deposited funds (totaling $1,879,719 through March 31, 2025 plus later monthly deposits) to extend the termination date. If the extension is not approved and a business combination is not completed by the Termination Date, the Company will redeem Public Stock and wind up under Delaware law.