Trailblazer Merger Corp I receives Nasdaq notice on market value compliance

Trailblazer Merger Corp I (NASDAQ:TBMC) disclosed Friday that it received a letter from Nasdaq notifying the company that its market value of listed securities fell below the $50 million minimum required for continued listing on the Nasdaq Global Market. The company reported the notice was received Tuesday, after its market value remained under the threshold for 30 consecutive business days, as required under Nasdaq Listing Rule 5450(b)(2)(A). According to InvestingPro data, TBMC’s current market capitalization stands at just $28.75 million, with an overall financial health score rated as "WEAK" at 1.09.

According to the press release statement, Trailblazer Merger Corp I now has 180 calendar days, until May 24, 2026, to regain compliance. To do so, the company’s market value must close at or above $50 million for at least ten consecutive business days during this compliance period. If compliance is not regained by the deadline, the company may be eligible to transfer its securities to the Nasdaq Capital Market, provided it meets the relevant requirements. If not, Nasdaq staff will provide written notice that the securities are subject to delisting, and the company would have the right to appeal the determination.

The notice does not have an immediate effect on the listing or trading of the company’s common stock on the Nasdaq Global Market.

Separately, Trailblazer Merger Corp I amended a promissory note with Trailblazer Sponsor Group, LLC, increasing the note amount by $250,000 to a total of $4,580,000 as of Monday. This financing move comes as the company faces liquidity challenges, with InvestingPro data revealing a current ratio of 0.7, indicating short-term obligations exceed liquid assets.

The company also reported it has deposited $11,648.56 into its trust account, extending the deadline to complete its initial business combination from November 30, 2025, to December 31, 2025.

These disclosures are based on a statement contained in the company’s Form 8-K filing with the Securities and Exchange Commission.

In other recent news, Trailblazer Merger Corp I has made several significant announcements regarding its planned merger with Cyabra Strategy Ltd. The company amended its merger agreement with Cyabra, adjusting key terms as part of the ongoing process. Additionally, Trailblazer Merger Corp I disclosed agreements to settle deferred underwriting and advisory fees, opting to issue 103,500 shares of common stock to each underwriter instead of making a cash payment upon closing the business combination. Furthermore, Trailblazer Merger Corp I amended its promissory note agreement with Trailblazer Sponsor Group, LLC, increasing the principal amount by $300,000, bringing it to a total of $4,330,000.

Shareholders of Trailblazer Merger Corp I approved an extension to the company’s deadline for completing the business combination. This amendment allows the board to extend the deadline by one month at a time, up to March 30, 2026, without further shareholder approval. In line with these extensions, the company announced an increase in its monthly trust deposit from $0.015 to $0.035 per public share not redeemed. These recent developments highlight Trailblazer Merger Corp I’s ongoing efforts to finalize its business combination with Cyabra Strategy Ltd.

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