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An update from Blend Labs (BLND) is now available.
Blend Labs, Inc. has strategically bolstered its financial position by selling 150,000 shares of its Series A Convertible Preferred Stock at $1,000 each to Haveli Brooks Aggregator, L.P., raising $150 million. This preferred stock, ranking senior to common shares in dividend rights and liquidation preference, is convertible into common stock at a set rate post-Hart-Scott-Rodino Act compliance. Additionally, Blend has granted Haveli a warrant for purchasing more common stock, further integrating Haveli into Blend’s future with board nomination rights and a standstill agreement limiting Haveli’s potential for control. This savvy move by Blend not only secures significant investment but also ensures continued innovation and shareholder value enhancement.
See more data about BLND stock on TipRanks’ Stock Analysis page.
