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Trailblazer Merger Corp I (NASDAQ:TBMC), currently trading at $11.74 with a market capitalization of $52.7 million, has extended the deadline to complete its initial business combination from June 30, 2025, to July 31, 2025. The company funded the extension by depositing $83,286.56 into its trust account, as previously approved by its board of directors. InvestingPro analysis shows the stock typically exhibits low price volatility, making it a relatively stable SPAC investment.
This extension follows an annual meeting of stockholders held on September 26, 2024, where shareholders approved proposals allowing the company to extend the business combination period by up to twelve additional months, or until September 30, 2025, without the need for further stockholder votes, unless the business combination is completed earlier.
Trailblazer Merger Corp I is a blank check company incorporated in Delaware and its securities are listed on the Nasdaq Stock Market LLC under the symbols TBMC (common stock) and TBMCR (rights).
The company previously entered into a merger agreement on July 22, 2024, involving Trailblazer Merger Sub, Ltd., Trailblazer Holdings, Inc., and Cyabra Strategy Ltd., an Israeli private company. Under the terms of the agreement, the parent company will merge with Trailblazer Holdings, and a subsidiary will merge with Cyabra Strategy Ltd., which will become a wholly owned subsidiary of the parent. Following the merger, the parent company will be renamed Cyabra, Inc.
The proposed merger will be submitted to shareholders for consideration. A registration statement on Form S-4, which includes a preliminary proxy statement and prospectus, has been filed with the Securities and Exchange Commission (SEC). Once effective, a definitive proxy statement and prospectus will be mailed to shareholders for a vote on the merger.
This information is based on a press release statement contained in a Form 8-K filing with the SEC.
In other recent news, Trailblazer Merger Corporation I has announced several key developments. The company has extended its deadline to complete a business combination, depositing an additional $83,286.56 into its trust account to move the completion date from April 30, 2025, to May 31, 2025. This extension follows a stockholder-approved amendment allowing deadline extensions up to September 30, 2025. Trailblazer has also amended its promissory note with its sponsor, increasing the borrowing limit by $500,000 to a total of $4,030,000, with the maturity date set to the earlier of July 30, 2025, or the closing of its initial business combination.
Additionally, the company is in the process of merging with Cyabra Strategy Ltd., a private Israeli company. The merger, which requires shareholder approval, is expected to result in the renaming of Trailblazer to Cyabra, Inc. In another development, Trailblazer has switched its independent registered public accounting firm from Marcum LLP to CBIZ (NYSE:CBZ) CPAs P.C., effective for the fiscal year ending December 31, 2025. This change was approved by the Audit Committee of Trailblazer’s Board of Directors and follows CBIZ CPAs’ acquisition of Marcum’s attest business. These updates reflect Trailblazer’s ongoing strategic initiatives as it moves forward with its business plans.
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