SEC Form SC 13G/A filed by Blend Labs Inc. (Amendment)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Schedule 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

Blend Labs, Inc.

(Name of Issuer)

Class A common stock, par value $0.00001 per share

(Title of Class of Securities)

09352U108

(CUSIP Number)

December 31, 2022

(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section of the Exchange Act but shall be subject to all other provisions of the Exchange Act (however, see the Notes).

CUSIP No. 09352U108

CUSIP No. 09352U108

CUSIP: 09352U108

CUSIP No. 09352U108

CUSIP No. 09352U108

CUSIP No. 09352U108

CUSIP No. 09352U108

CUSIP No. 09352U108

CUSIP No. 09352U108

CUSIP No. 09352U108

CUSIP No. 09352U108

CUSIP No. 09352U108

Item 1.

(a)       Name of Issuer:

Blend Labs, Inc. (the “Issuer”)

(b)       Address of Issuer’s Principal Executive Offices:

415 Kearny Street
San Francisco, CA 94108
(650) 550-4810

Item 2.

(a)       Name of Person Filing:

This Schedule 13G is being jointly filed by the following reporting persons (each a “Reporting Person” and collectively, the “Reporting Persons”):

Lightspeed Venture Partners IX, L.P. (“Lightspeed IX”)

Lightspeed General Partner IX, L.P. (“LGP IX”)

Lightspeed Ultimate General Partner IX, Ltd. (“LUGP IX”)

Lightspeed Venture Partners Select, L.P. (“Lightspeed Select”)

Lightspeed General Partner Select, L.P. (“LGP Select”)

Lightspeed Ultimate General Partner Select, Ltd. (“LUGP Select”)

Lightspeed Venture Partners Select III, L.P. (“Lightspeed Select III”)

Lightspeed General Partner Select III, L.P. (“LGP Select III”)

Lightspeed Ultimate General Partner Select III, Ltd. (“LUGP Select III”)

Barry Eggers (“Eggers”)

Ravi Mhatre (“Mhatre”)

Peter Y. Nieh (“Nieh”)

The Reporting Persons have entered into a Joint Filing Agreement, dated February 14, 2022, a copy of which is filed with this Schedule 13G as Exhibit 1, pursuant to which such Reporting Persons have agreed to file this statement jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

(b)       Address of Principal Business Office or, if none, Residence

The principal business office of each Reporting Person is c/o Lightspeed Venture Partners, 2200 Sand Hill Road, Menlo Park, CA 94025.

(c)       Citizenship:

Entities:

Lightspeed IX – Cayman Islands

LGP IX – Cayman Islands

LUGP IX – Cayman Islands

Lightspeed Select – Cayman Islands

LGP Select – Cayman Islands

LUGP Select – Cayman Islands

Lightspeed Select III – Cayman Islands

LGP Select III – Cayman Islands

LUGP Select III – Cayman Islands

Individuals:

Eggers – United States of America

Mhatre – United States of America

Nieh – United States of America

(d)       Title of Class of Securities:

Class A common stock, par value $0.00001 per share (the “Class A Common Stock”)

(e)       CUSIP Number:

09352U108

(a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e) ¨ An investment adviser in accordance with §240.13d-1(b) (1)(ii)(E);

(f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b) (1)(ii)(F);

(g) ¨ A parent holding company or control person in accordance with §240.13d-1(b) (1)(ii)(G);

(h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) ¨ A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);

(k) ¨ Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

Not Applicable.

The following information is with respect to the ownership of the Class A Common Stock by the Reporting Persons filing this statement on Schedule 13G as of the date of this report:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨:

Not Applicable.

Not Applicable.

Not Applicable.

Not Applicable.

Not Applicable

Signatures

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 14, 2023

Exhibit 1 

AGREEMENT REGARDING THE JOINT FILING OF SCHEDULE 13G

Pursuant to Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned agree that the Statement on Schedule 13G to which this Exhibit is attached is filed on behalf of each of them. Each of them is individually eligible to use the Schedule 13G to which this Exhibit is attached. Each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.

IN WITNESS WHEREOF, the undersigned hereby execute this Joint Filing Agreement as of February 14, 2023.