Haveli Investments Increases Stake in Blend Labs, Inc. to 22.5% via Amendment No. 4

On June 12, 2026, Haveli Investments, L.P. and its affiliates filed Amendment No. 4 to their Schedule 13D for Blend Labs, Inc. (BLND). The filing reports an increase in beneficial ownership to 64,197,502 shares of Class A Common Stock, representing a 22.5% stake in the company. This holding consists of 18,043,657 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. The reporting group includes Haveli Brooks Aggregator, L.P., Haveli Investments Software Fund I GP, LLC, and Brian N. Sheth, among others. Mr. Sheth is reported to have a slightly higher individual beneficial ownership of 22.6% (64,327,502 shares) due to shares held in a family trust. The event triggering this amendment occurred on June 10, 2026. This increase follows previous amendments filed between 2024 and 2026, reflecting the group's growing position in the Novato-based fintech company.