Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 247

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 4
Chunk 247
---
 price, including, among others:

•we will have incurred and may continue to incur costs relating to the Transactions, many of which are payable by us whether or not the Transactions are completed;

•matters related to the Transactions require substantial commitments of time and resources by our management team and numerous others throughout our organization, which could otherwise have been devoted to other opportunities;

•we may be subject to legal proceedings related to the Transactions or the failure to complete the Transactions, which could be time consuming and expensive, could divert our management’s attention away from our regular business and, if any lawsuit is adversely resolved against us, could have a material and adverse effect on our financial condition;

•the failure to complete the Transactions may result in negative publicity and a negative perception of us in the investment community, which could negative impact on our stock price; and

•any disruptions to our business resulting from the announcement and pendency of the Transactions, including any adverse changes in our relationships with our customers, partners or employees, may continue to intensify in the event the Agreement is not consummated.

After the completion of the Transactions, we may be required to indemnify Purchaser for certain liabilities. Such liabilities may be greater than we expect and managing the claims may require significant management time and attention.

There is no guarantee that we will realize the expected benefits of the Transactions, including commercial agreements that we entered into with Purchaser and Title365 in connection with the Transactions.

76

Our exposure to regulation and residential real estate transaction activity may be greater in Texas, California and Florida, where we source a significant proportion of our premiums. 

A large portion of our previously reported Title segment revenue historically originated from residential real estate transactions in Texas, California and Florida. As compared to our competitors who operate on a wider geographic scale or whose business is less concentrated in these states, any adverse changes in the regulatory environment affecting title insurance and real estate settlement in Texas, California and Florida, which could include reductions in the maximum rates permitted to be charged, inadequate rate increases, or more fundamental changes in the design or implementation of the Texas, California and Florida title insurance regulatory framework, may expose us to more significant risks and our business, financial condition, and result of operations could be adversely affected. 

In addition, to the extent residential real estate transaction volume in Texas, California or Florida changes significantly, whether due to changes in real estate values that differ from the overall U.S. real estate market, changes in the local economy relative to the U.S. economy, or natural disasters that disproportionately impact