Blend Announces Launch of Initial Public Offering

SAN FRANCISCO, July 6, 2021 /PRNewswire/ -- Blend Labs, Inc. today announced that it has launched the roadshow for the initial public offering of its Class A common stock. Blend is offering 20,000,000 shares of its Class A common stock. The initial public offering price is expected to be between $16.00 and $18.00 per share. The underwriters of the offering will also have a 30-day option to purchase from Blend up to an additional 3,000,000 shares of its Class A common stock. The shares are expected to trade on the New York Stock Exchange under the ticker symbol "BLND".

Goldman Sachs & Co. LLC, Allen & Company LLC and Wells Fargo Securities, LLC are acting as lead book-running managers for the proposed offering. KeyBanc Capital Markets, Truist Securities and UBS Investment Bank are acting as book-running managers for the proposed offering, and Piper Sandler, William Blair, Canaccord Genuity, Drexel Hamilton, Loop Capital Markets and Ramirez & Co., Inc. are acting as co-managers for the proposed offering. The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed offering may be obtained by contacting Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at [email protected]; Allen & Company LLC, Attn: Prospectus Department, 711 Fifth Avenue, New York, NY 10022, by telephone at (212) 339-2220, or by email at [email protected]; or Well Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, toll-free at (800) 326-5897 or email a request to [email protected].

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Media Contact: [email protected]

SOURCE Blend