UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ________________ Commission file number: 001-41668 TRAILBLAZER MERGER CORPORATION I (Exact name of registrant as specified in its charter) | Delaware | 87-3710376 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation ...