Trailblazer Merger Corp I: Nasdaq/NYSE listing notice — Trailblazer Merger Corp I receives Nasdaq deficiency notice for MVLS below $50M

Trailblazer Merger Corp I

Nasdaq notified TBMC on Nov 25, 2025; MVLS below $50M for 30 consecutive days.
Company has until May 24, 2026 to regain compliance; if not, securities may be delisted.
Promissory note from sponsor increased by $250k to $4.58M on Nov 24, 2025.
Business combination deadline extended to Dec 31, 2025 via $11,648.56 trust deposit.
Merger with Cyabra Strategy Ltd. remains pending; shareholder vote required.

item 1.01 item 2.03 item 3.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Trailblazer Merger Corp I amended loan of $4,580,000 with Trailblazer Sponsor Group, LLC.

Instrument: loan
Principal: $4,580,000
Counterparty: Trailblazer Sponsor Group, LLC
Event: amendment

Exact text from the filing

o the Second Amended and Restated Promissory Note (the “Note”) with Trailblazer Sponsor Group, LLC, pursuant to which the amount of the Note was increased by $250,000 to $4,580,000.

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Trailblazer Merger Corp I received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A), 5810(c)(3)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5810(c)(3)(C)

Exact text from the filing

November 25, 2025,Trailblazer Merger Corporation I (the “ Company ”) received a letter from Nasdaq (the “ Notice ”) which notified the Company that, for 30 consecutive business days, the Company’s market value of listed securities (“ MVLS ”) closed below the $50,000,000 MVLS threshold required for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(2)(A) (the “ MVLS Rule ”). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days, or until May 24, 2026 (the “ MVLS Compliance Period ”), to regain compliance with the MVLS Rule. The Noti

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Trailblazer Merger Corp I amended Amendment with Trailblazer Sponsor Group, LLC valued at $250,000 (effective 2025-11-24).

Action: amendment
Agreement: credit facility
Counterparty: Trailblazer Sponsor Group, LLC
Value: $250,000
Effective: 2025-11-24

Exact text from the filing

As of November 24, 2025, Trailblazer Merger Corporation I (the “Company”) entered into an amendment (the “Amendment”) to the Second Amended and Restated Promissory Note (the “Note”) with Trailblazer Sponsor Group, LLC, pursuant to which the amount of the Note was increased by $250,000 to $4,580,000.

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Source: SEC EDGAR

accession 0001213900-25-115987

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