Trailblazer Merger Corporation I (TBMC)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	461.91 k	461.91 k	461.91 k	461.91 k	461.91 k	461.91 k
Cash burn (monthly)	(no burn)	17.80 k	177.62 k	(no burn)	159.94 k	75.29 k
Cash used (since last report)	n/a	90.72 k	905.20 k	n/a	815.13 k	383.71 k
Cash remaining	n/a	371.19 k	-443.29 k	n/a	-353.22 k	78.20 k
Runway (months of cash)	n/a	20.9	-2.5	n/a	-2.2	1.0

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2024

TBMC institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	20	31	-35.5%
Opened positions	10	2	+400.0%
Closed positions	21	14	+50.0%
Increased positions	2	3	-33.3%
Reduced positions	6	13	-53.8%

13F shares	Current	Prev Q	Change
Total value	25.27 bn	31.05 bn	-18.6%
Total shares	5.72 mm	7.36 mm	-22.2%
Total puts	0.00	0.00
Total calls	0.00	0.00
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
Trailblazer Sponsor	2.12 mm	$23.48 mm	NEW
Space Summit Capital	599.00 k	$6.06 mm	0.0%
Aqr Capital Management	438.76 k	$4.88 mm	NEW
CNH Partners	437.67 k	$4.86 bn	NEW
Karpus Management	246.49 k	$2.74 bn	-4.3%
TD Securities	240.00 k	$2.66 mm	NEW
TD The Toronto-Dominion Bank	240.00 k	$2.67 bn	NEW
Boothbay Fund Management	223.00 k	$2.48 bn	-33.7%
Atw Spac Management	223.00 k	$2.48 bn	-66.9%
Harraden Circle Investments	217.97 k	$2.43 bn	-58.5%

Largest transactions	Shares	Bought/sold	Change
Trailblazer Sponsor	2.12 mm	+2.12 mm	NEW
Highbridge Capital Management	0.00	-714.55 k	EXIT
Yakira Capital Management	0.00	-518.10 k	EXIT
Schechter Investment Advisors	0.00	-451.50 k	EXIT
Atw Spac Management	223.00 k	-450.20 k	-66.9%
Aqr Capital Management	438.76 k	+438.76 k	NEW
CNH Partners	437.67 k	+437.67 k	NEW
Cowen And	0.00	-409.10 k	EXIT
Clear Street	0.00	-399.14 k	EXIT
Harraden Circle Investments	217.97 k	-307.21 k	-58.5%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

TBMC insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	175	1.93 k	405
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	471	5.19 k	1,089
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	764	8.42 k	1,764
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	2,040	22.48 k	4,710
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	2,418	26.65 k	5,584
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	6,753	74.42 k	15,593
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	8,150	89.81 k	18,822
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	9,930	109.43 k	22,930
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	11,996	132.20 k	27,702
11 Oct 24	AQR Capital Management	Common Stock	Sell	Dispose S	Yes	No	11.02	15,406	169.77 k	35,576

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Press releases

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