---
schema_version: "secwatch.filing_event.v1"
accession: "0001855747-24-000043"
form_type: "8-K"
ticker: "BLND"
cik: "0001855747"
company_name: "Blend Labs, Inc."
filed_at: "2024-04-29T23:59:59+00:00"
generated_at: "2026-06-03T05:46:05.464283+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Blend Labs secures $150M investment from Haveli; repays $145M credit line, appoints Sheth to board

## Summary
- Haveli invests $150M in Series A convertible preferred stock at $3.25/share conversion (31% premium to April 26 close).
- Approximately $145M of proceeds used to fully repay existing Blue Owl credit agreement; remainder for general corporate purposes.
- Haveli receives warrant for ~11.1M shares of common stock at $4.50/share (81% premium), exercisable for 24 months.
- Brian Sheth (Haveli CIO) appointed to Blend board; three directors (Mather, Burnham, Collard) not standing for reelection.
- Preferred stock redeemable after 5 years at 150%-200% of liquidation preference; company can redeem after 7 years at 200%.

## SEC filing metadata
- accession: 0001855747-24-000043
- form_type: 8-K
- ticker: BLND
- cik: 0001855747
- company_name: Blend Labs, Inc.
- filed_at: 2024-04-29T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 3.02, 3.03, 5.03, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000043/0001855747-24-000043-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000043/blnd-20240423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001855747-24-000043
- JSON: https://secwatch.observer/filing/0001855747-24-000043.json
- Plain text: https://secwatch.observer/filing/0001855747-24-000043.txt

## Key facts
- Executive change
  Brian Sheth was appointed as Director at Blend Labs, Inc..
  - Action: appointed
  - Role: Director
  source text: the Board appointed Mr. Sheth to serve as a member of the Board effective as of the Closing Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000043/0001855747-24-000043-index.htm
- Executive change
  Ann Mather departed as Director at Blend Labs, Inc..
  - Action: not standing for reelection
  - Role: Director
  source text: On April 23, 2024, each of Ann Mather, Ciara Burnham and Erin Collard informed the Company that they would not stand for reelection to the Board at the Company’s Annual Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000043/0001855747-24-000043-index.htm
- Executive change
  Ciara Burnham departed as Director at Blend Labs, Inc..
  - Action: not standing for reelection
  - Role: Director
  source text: On April 23, 2024, each of Ann Mather, Ciara Burnham and Erin Collard informed the Company that they would not stand for reelection to the Board at the Company’s Annual Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000043/0001855747-24-000043-index.htm
- Executive change
  Erin Collard departed as Director at Blend Labs, Inc..
  - Action: not standing for reelection
  - Role: Director
  source text: On April 23, 2024, each of Ann Mather, Ciara Burnham and Erin Collard informed the Company that they would not stand for reelection to the Board at the Company’s Annual Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000043/0001855747-24-000043-index.htm
- Material Agreements
  Blend Labs, Inc. entered into Investment Agreement with Haveli Brooks Aggregrator, L.P. valued at $150 million (effective 2024-04-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Haveli Brooks Aggregrator, L.P.
  - Value: $150 million
  - Effective: 2024-04-29
  source text: On April 29, 2024 (the “Closing Date”), Blend Labs, Inc., a Delaware corporation (the “Company” or “Blend”), entered into an Investment Agreement (the “Investment Agreement”) with Haveli Brooks Aggregrator, L.P. (the “Investor” or “Haveli”) and issued 150,000 shares of the Company’s Series A Convertible Preferred Stock, par value $0.00001 per share (the “Series A Preferred Stock”), for an aggregate purchase price of $150 million, or $1,000 per share (the “Issuance”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000043/0001855747-24-000043-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.