Trailblazer Merger I, a blank check company focusing on the US technology industry, filed on Thursday with the SEC to raise up to $68 million in an initial public offering.
The company plans to raise $68 million by offering 6.8 million units at $10. Each unit consists of one share of common stock, one Class 1 Warrant and one Class 2 Warrant, both exercisable at $11.50, and one right to receive one-twentieth of a share upon the completion of an initial business combination. The Class 1 Warrants will trade separately after 52 days, while the Class 2 Warrants will not trade separately until after the business combination, and will expire upon redemption of the ordinary share. At the proposed deal size, Trailblazer Merger I would command a market value of $84 million.
The company is led by CEO and Director Arie Rabinowitz, the co-founder and CEO of single family office LH Financial Services, CFO Scott Burell, the CFO of AIVITA Biomedical, and Chairman Joseph Hammer, the CIO of LH Financial Services. Trailblazer Merger I says it intends to target US companies operating in innovative technologies, such as cloud platform services, supply chain technologies, companies that service hybrid workforces, and e-sports.
The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol TBMCU. LifeSci Capital and Ladenburg Thalmann are the joint bookrunners on the deal.
