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Trailblazer Merger Corporation I, a special purpose acquisition company with a market capitalization of $53.13 million, has amended its promissory note with its sponsor to increase the borrowing limit by $500,000, bringing the total available to $4,030,000. The maturity date of the amended note is now set to the earlier of July 30, 2025, or the closing of the company’s initial business combination. This amendment was filed with the Securities and Exchange Commission (SEC) on Friday, May 30, 2025. According to InvestingPro data, the company’s current ratio of 0.14 indicates significant pressure on short-term liquidity.
The promissory note was originally entered into with Trailblazer Sponsor Group, LLC, and this latest amendment is intended to provide additional financial flexibility as the company pursues its business combination. The amendment was detailed in an 8-K filing with the SEC, which also included the extension of the company’s business combination period to June 30, 2025. This extension was funded by depositing $83,286.56 into the Trust Account.
Trailblazer Merger Corporation I is based in New York and is incorporated in Delaware. It is listed on the Nasdaq Stock Market LLC under the ticker symbols TBMC for its common stock and TBMCR for its rights.
The company has previously announced a merger agreement with Cyabra Strategy Ltd., a private company based in Israel. The merger is subject to shareholder approval and other customary closing conditions. The transaction is expected to result in the renaming of Trailblazer Merger Corporation I to Cyabra, Inc. upon completion.
The information provided in this article is based on a press release statement and the company’s SEC filing.
In other recent news, Trailblazer Merger Corporation I has announced an extension of its deadline to complete an initial business combination. The company has deposited an additional $83,286.56 into its trust account, extending the period from March 31, 2025, to April 30, 2025. This follows a previously approved amendment allowing for an extension of the business combination deadline to September 30, 2025. Trailblazer is currently in the process of a proposed merger with Cyabra Strategy Ltd., an Israeli company. Upon completion, Trailblazer will be renamed "Cyabra, Inc." and will continue trading on Nasdaq under new symbols. The merger is subject to shareholder approval, and further details will be provided in a definitive proxy statement/prospectus once the SEC declares the registration statement effective. The company’s management believes the additional time will aid in successfully completing the merger. These developments are part of Trailblazer’s strategic plan to establish a presence in the technology and construction industries.
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