TBMC
Trailblazer Merger Corporation I12.01
-0.48-3.84%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
54.03MP/E (TTM)
-Basic EPS (TTM)
-1.02Dividend Yield
0%Recent Filings
10-K
FY2025 results
Trailblazer Merger, a blank check company, posted a net loss of $8.3M for FY2025 ended December 31, 2025, driven by a $6.2M debt extinguishment loss on sponsor notes and $2.6M in G&A, offset by $944K trust interest; no revenue as pre-business combination. Q4 saw heavy redemptions—2M shares at $11.70 in October post-September extension vote—slashing trust from $70M post-IPO to thin liquidity with $85K cash. Extensions to March 2026 bought time for Cyabra merger, backed by $8M PIPE. Sponsor funded $2.4M extensions. Nasdaq delisting looms on low market value. No merger closed. Deadline nears.
8-K
Nasdaq compliance warnings issued
Trailblazer Merger Corporation I received Nasdaq notices on March 3, 2026, for failing the $15M MVPHS rule over 30 days and falling below 1.1M PHS threshold. It has until August 31 for MVPHS fix and 45 days to submit a PHS plan. Trading continues uninterrupted. Both hinge on closing the Cyabra deal; no guarantees otherwise.
8-K
Merger proposals approved
Trailblazer Merger Corporation I shareholders overwhelmingly approved all proposals at the February 18, 2026 special meeting, clearing the path for its merger with Cyabra Strategy Ltd. under the July 22, 2024 agreement. With 89.53% of shares voting yes on the merger and charter amendment, and 99.70% backing Nasdaq compliance, incentive plan, and governance items, the business combination advances. Votes locked in change of control.
8-K
Note amended to $5.33M
8-K
SPAC extends merger deadline
Trailblazer Merger Corporation I extended its business combination deadline one month to February 28, 2026, by depositing $11,648.56 into the trust account. This buys more time for its pending merger with Cyabra Strategy Ltd., announced July 22, 2024. Deadline met. Yet risks like failure to close persist.
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