Amendment to Schedule 13D Filing for Blackline, Inc.
Fivespan Partners, LP and Dylan Haggart, the Reporting Persons, have jointly filed an amendment to their Schedule 13D, reporting beneficial ownership of 3,013,943 shares of Blackline, Inc. Common Stock, representing 5.1% of the outstanding shares. The Reporting Persons acquired these shares using working capital from the Fivespan Fund, totaling approximately $138.6 million. They acquired the securities believing they were undervalued and intend to engage in discussions with the Issuer's management and board regarding various aspects of the business, including potential changes to board composition and overall business strategy. The Reporting Persons continuously review their investment and may take further actions, including acquiring more shares, selling existing holdings, or engaging in hedging transactions. The filing details transactions over the past sixty days, primarily consisting of open market purchases of Blackline, Inc. Common Stock by Fivespan Partners Fund, Ltd. at prices ranging from $31.96 to $51.42 per share.