Trailblazer Merger I, a blank check company focusing on the US technology industry, lowered the proposed deal size for its upcoming IPO on Tuesday.
The New York, NY-based company now plans to raise $60 million by offering 6 million units at $10. The company had previously filed to offer 6.8 million units at the same price. Each unit now consists of one share of common stock and one right to receive one-tenth of a share upon completion of an initial business combination. It had previously contained 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. At the revised terms, Trailblazer Merger I will raise 11% less in proceeds than previously anticipated.
The company is led by CEO and Director Arie Rabinowitz, the co-founder and CEO of single family office LH Financial Services, and Chairman Joseph Hammer, the CIO of LH Financial Services. Trailblazer Merger I plans to target US companies operating in the tech industry, focusing on segments including cloud-as-a-service, supply chain technologies, hybrid workforce services, and e-sports.
Trailblazer Merger I 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.
