Haveli Investments Increases Stake in Blend Labs, Inc. to 21.2% Following Warrant Expiration

Haveli Investments, L.P. and associated reporting persons, including Brian N. Sheth, filed an Amendment No. 3 to their Schedule 13D regarding Blend Labs, Inc. (BLND). The filing reports a beneficial ownership of 60,480,050 shares of Class A Common Stock, representing approximately 21.2% of the class. This position consists of 14,326,205 shares of Class A Common Stock and 46,153,845 shares issuable upon the conversion of 150,000 shares of Series A Convertible Preferred Stock. A key update in this amendment is the expiration of a warrant previously held by Haveli Brooks Aggregator, L.P. on April 29, 2026, which entitled the holder to acquire 11,111,112 shares of Class A Common Stock. Brian N. Sheth is identified as the Managing Member or CEO/CIO across the various Haveli entities, maintaining shared voting and dispositive power over the reported securities. The calculation of the ownership percentage accounts for the shares issuable upon conversion of the preferred stock and the total shares outstanding as of May 1, 2026.