Blend Labs Inc is trading 5.3% up at $1.78 in pre-market after disclosing a significant increase in shareholder ownership.
- Investment funds associated with Haveli and Brian Sheth filed an amended Schedule 13D showing beneficial ownership of approximately 64.2 million Class A shares, or 22.6% of the company.
- The disclosure of the sizable position increases perceived sponsor support and influence, while the stock also benefits from a broad risk-on rally in U.S. equity futures.