STOCK TITAN

Blackstone Block Sale Converts 7.4M Units, Margin Loan ~$209M Disclosed

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Amendment No. 7 to a Schedule 13D reports Blackstone-related funds' actions on Bumble Inc. Class A common stock. On August 13, 2025 the BX Buzz ML-entities completed an unregistered block sale of 16,689,884 Class A shares for net proceeds of approximately $104,478,673. In connection with that sale, 7,395,159 Common Units were converted into Class A shares (one-for-one exchange).

Following the Block Sale the filing itemizes holdings: Blackstone-affiliated entities collectively report beneficial ownership of 37,387,500 shares (representing 29.2% of Class A outstanding on the stated basis). The filing also discloses pledged collateral and margin financing: as of August 14, 2025, ~30,116,110 Class A shares and 23,961,274 Common Units were pledged, the outstanding margin loan balance was approximately $208,981,773, and the Reporting Persons expect to release collateral and repay a portion of the loan in connection with the Block Sale.

Positive

  • Block Sale generated approximately $104,478,673 in net proceeds
  • Reporting persons retain a large ownership position: 37,387,500 shares (29.2%)
  • Conversion of 7,395,159 Common Units into Class A shares increases share clarity and liquidity
  • Intent to release collateral and repay part of the outstanding margin loan

Negative

  • Outstanding margin loan is approximately $208,981,773, indicating material leverage against holdings
  • Approximately 30,116,110 Class A shares and 23,961,274 Common Units remain pledged, which could constrain flexibility
  • Reporting Persons and founder are deemed a group (39.4% combined on issuer basis), a material control consideration for investors

Insights

TL;DR: Blackstone sold a sizeable block for $104.5M while retaining a large 29.2% economic stake; margin loan remains material.

The filing documents a disciplined liquidity event: an unregistered block sale generating net proceeds of approximately $104.5 million and conversion of 7.395 million Common Units into Class A shares. Post-transaction disclosure shows Blackstone-affiliated reporting persons beneficially own 37,387,500 Class A shares, representing 29.2% on the filing's stated basis. The margin facility remains significant with an outstanding loan of ~ $209.0 million, and the registrants expect to release collateral and repay part of that balance. For investors, the key takeaways are the large residual ownership stake and the continuing, though reduced, leverage profile explicitly disclosed in the filing.

TL;DR: Large aggregated ownership (29.2%) and voting arrangements are reaffirmed; group status with founder is disclosed.

The amendment reiterates the governance structure: Class A normally carries one vote per share but certain Blackstone funds hold outsized voting rights (ten votes per share) until the High Vote Termination Date under the Stockholders Agreement. The filing confirms the Reporting Persons and Whitney Wolfe Herd are deemed a group under the Stockholders Agreement and reports a combined aggregate that may equal 39.4% when combined with Ms. Wolfe Herd and affiliates based on issuer-provided information. These disclosures are material for control and proxy considerations because they clarify voting power, group relationships and the potential duration of enhanced voting rights.






If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on 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 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






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BX Buzz ML-1 Holdco L.P.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-2 Holdco L.P.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-3 Holdco L.P.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-4 Holdco L.P.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-5 Holdco L.P.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-6 Holdco L.P.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-7 Holdco L.P.
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-1 GP LLC
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-2 GP LLC
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-3 GP LLC
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-4 GP LLC
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-5 GP LLC
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-6 GP LLC
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
BX Buzz ML-7 GP LLC
Signature:/s/ Robert Brooks
Name/Title:Robert Brooks, Authorized Signatory, See Exhibit 99.1
Date:08/15/2025
Blackstone Buzz Holdings L.P.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
Blackstone Tactical Opportunities Fund-FD L.P.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
Blackstone Family Investment Partnership-Growth ESC L.P.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Financial Officer, See Exhibit 99.1
Date:08/15/2025
BCP Buzz Holdings L.P.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Operating Officer of Global Finance, See Exhibit 99.1
Date:08/15/2025
BTO Buzz Holdings II L.P.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
BXG Buzz Holdings L.P.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Financial Officer, See Exhibit 99.1
Date:08/15/2025
BSOF Buzz Aggregator L.L.C.
Signature:/s/ Stephen O'Connor
Name/Title:Stephen O'Connor, Authorized Person, See Exhibit 99.1
Date:08/15/2025
BTO Holdings Manager-NQ L.L.C.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
Blackstone Tactical Opportunities Associates-NQ L.L.C.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
BTOA-NQ L.L.C.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
Blackstone Tactical Opportunities Associates III-NQ L.P.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
BTO DE GP-NQ L.L.C.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
BXG Side-by-Side GP L.L.C.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Financial Officer, See Exhibit 99.1
Date:08/15/2025
BXG Holdings Manager L.L.C.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Financial Officer, See Exhibit 99.1
Date:08/15/2025
Blackstone Growth Associates L.P.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Financial Officer, See Exhibit 99.1
Date:08/15/2025
BXGA L.L.C.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Financial Officer, See Exhibit 99.1
Date:08/15/2025
Blackstone Strategic Opportunity Associates L.L.C.
Signature:/s/ Stephen O'Connor
Name/Title:Stephen O'Connor, Authorized Person, See Exhibit 99.1
Date:08/15/2025
BCP VII Holdings Manager - NQ L.L.C.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Operating Officer of Global Finance, See Exhibit 99.1
Date:08/15/2025
Blackstone Management Associates VII NQ L.L.C.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Operating Officer of Global Finance, See Exhibit 99.1
Date:08/15/2025
BMA VII NQ L.L.C.
Signature:/s/ Christopher Striano
Name/Title:Christopher Striano, Chief Operating Officer of Global Finance, See Exhibit 99.1
Date:08/15/2025
Blackstone Holdings II L.P.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/15/2025
Blackstone Holdings I/II GP L.L.C.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/15/2025
BTO Holdings Manager L.L.C.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
Blackstone Tactical Opportunities Associates L.L.C.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
BTOA L.L.C.
Signature:/s/ Christopher J. James
Name/Title:Christopher J. James, Authorized Person, See Exhibit 99.1
Date:08/15/2025
Blackstone Holdings III L.P.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/15/2025
Blackstone Holdings III GP L.P.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/15/2025
Blackstone Holdings III GP Management L.L.C.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/15/2025
Blackstone Inc.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/15/2025
Blackstone Group Management L.L.C.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/15/2025
Stephen A. Schwarzman
Signature:/s/ Stephen A. Schwarzman
Name/Title:Stephen A. Schwarzman
Date:08/15/2025

FAQ

What did Blackstone-related holders sell in the Schedule 13D/A for BMBL?

They completed an unregistered block sale of 16,689,884 Class A shares on August 13, 2025 for net proceeds of approximately $104,478,673.

How many Bumble (BMBL) Class A shares do the Reporting Persons beneficially own after the sale?

Collectively the Reporting Persons report beneficial ownership of 37,387,500 shares, representing 29.2% of Class A on the filing's stated basis.

Did any Common Units convert to Class A shares in this filing?

Yes. The filing states 7,395,159 Common Units were converted into Class A Common Stock in connection with the Block Sale.

What margin or pledged collateral disclosures are included?

As of August 14, 2025 the filing reports ~30,116,110 Class A shares and 23,961,274 Common Units pledged, and an outstanding margin loan of ~$208,981,773; the Reporting Persons intend to release collateral and repay part of the loan.

Does the filing mention any voting arrangements for Class A or Class B stock?

Yes. It explains Class A normally carries one vote per share while certain Blackstone funds have outsized voting rights (ten votes per share) until the High Vote Termination Date; Class B shares confer voting power tied to Common Units.
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