---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-119751"
form_type: "8-K"
ticker: null
cik: "0001934945"
company_name: "Trailblazer Merger Corp I"
filed_at: "2025-12-09T23:59:59+00:00"
generated_at: "2026-05-16T13:50:40.683811+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Trailblazer Merger Corp I amends sponsor note: principal converts to preferred at 300% if deal closes

## Summary
- Principal balance now due later of Sep 15, 2025 or closing of initial business combination (previously due earlier).
- Upon business combination close, outstanding principal automatically converts into preferred stock with total stated value equal to 300% of principal.
- 100% of principal converts into Series B preferred; remaining 200% into Series C preferred with conversion price based on $42M valuation cap.
- Amendment dated Dec 4, 2025 to Second Amended and Restated Promissory Note with Trailblazer Sponsor Group (Payee).

## SEC filing metadata
- accession: 0001213900-25-119751
- form_type: 8-K
- cik: 0001934945
- company_name: Trailblazer Merger Corp I
- filed_at: 2025-12-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1934945/000121390025119751/0001213900-25-119751-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1934945/000121390025119751/ea0269048-8k425_trail1.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-119751
- JSON: https://secwatch.observer/filing/0001213900-25-119751.json
- Plain text: https://secwatch.observer/filing/0001213900-25-119751.txt

## Key facts
- Debt Financings
  Trailblazer Merger Corp I incurred loan of principal balance of the Note with Trailblazer Sponsor Group, LLC maturing September 15, 2025 or the closing of Maker's initial business combination.
  - Instrument: loan
  - Principal: principal balance of the Note
  - Counterparty: Trailblazer Sponsor Group, LLC
  - Maturity: September 15, 2025 or the closing of Maker's initial business combination
  - Event: incurrence
  source text: On December 4, 2025 the parties thereto entered into an amendment (the “Amendment”) to that certain Second Amended and Restated Promissory Note, dated as of July 29, 2025, as amended from time to time (the “Note”) by and among Trailblazer Merger Corporation I, a Delaware corporation (the “Maker”), and Trailblazer Sponsor Group, LLC.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1934945/000121390025119751/0001213900-25-119751-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.