SCHEDULE: Haveli Investments Updates Blend Labs Stake

Haveli Investments reports a change in beneficial ownership of Blend Labs, Inc. following the expiration of a stock warrant.

Summary

• Haveli Investments and associated entities reported a change in their beneficial ownership of Blend Labs, Inc. (BLND) Class A common stock.
• The change follows the expiration of a warrant previously held by Haveli Brooks Aggregator, L.P. to acquire 11,111,112 shares of Class A Common Stock on April 29, 2026.
• The reporting persons maintain a collective beneficial ownership of 60,480,050 shares, representing approximately 21.2% of the class.
• Brian N. Sheth maintains a slightly higher individual beneficial ownership of 60,610,050 shares (21.3%) due to additional holdings in a family trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative update regarding a change in warrant status, which does not fundamentally alter the company's operational outlook.

Positives

• The reporting group maintains a significant 21.2% stake, signaling continued long-term interest in the company.
• The expiration of the warrant removes potential future dilution associated with that specific instrument.

Negatives

• The expiration of the warrant reduces the potential upside exposure for the reporting group regarding future share acquisition at the warrant's strike price.

Risks

• Concentration of ownership by a single investment group may influence corporate governance and strategic direction.
• Market volatility could impact the value of the significant stake held by the reporting persons.

Future Outlook

No specific forward-looking guidance regarding business operations was provided in this ownership disclosure.

Industry Context

StockSavvy.ai notes that large institutional ownership changes in fintech infrastructure providers like Blend Labs often reflect broader shifts in private equity sentiment toward the mortgage and banking software sector.

Comparison to Industry Standards

• The 21.2% ownership stake is consistent with significant influence positions held by private equity firms in mid-cap technology companies.
• The use of Schedule 13D filings to report warrant expirations is standard practice for institutional investors maintaining transparency with the SEC.

Stakeholder Impact

• Shareholders should note the reduction in potential dilution from the expired warrant.
• The stability of the major shareholder base remains unchanged.

Next Steps

• Continued monitoring of SEC filings for any further changes in beneficial ownership by Haveli Investments.

Key Dates

Keywords

Blend Labs, Schedule 13D, Haveli Investments, Brian Sheth, Beneficial Ownership, BLND