Braze: MCG7 reports 6.0% stake

Braze, Inc. ownership disclosure: MCG7 Capital Inc., together with its subsidiaries Binder Clip Holdings LLC and Appboy BH LLC, reports beneficial ownership of 6,709,408 shares of Class A Common Stock, representing 6.00% of Class A stock as of March 31, 2026.

Rhea-AI Filing Summary

Braze, Inc. ownership disclosure: MCG7 Capital Inc., together with its subsidiaries Binder Clip Holdings LLC and Appboy BH LLC, reports beneficial ownership of 6,709,408 shares of Class A Common Stock, representing 6.00% of Class A stock as of March 31, 2026.

The filing notes that Binder directly held 6,709,408 shares and Appboy directly held 355,448 shares as of March 31, 2026, based on the issuer reporting 111,737,860 shares outstanding on that date. The three reporting persons filed jointly pursuant to the attached agreement.

Insights

Securities Lawyer

Schedule 13G/A amendment discloses joint beneficial ownership and shared voting/dispositive power.

The amendment states that MCG7, Binder, and Appboy jointly report 6,709,408 shares of Class A Common Stock, representing 6.00% as of March 31, 2026. Ownership percentages are calculated from the issuer's reported outstanding shares.

Filers identify shared voting and dispositive power and attach a joint-filing agreement under Rule 13d-1(k)(1)(iii). This is a disclosure of passive/collective holdings rather than an active transaction; timing and cash-flow treatment are not described in the excerpt.

Corporate Governance Analyst

Ownership concentration at ~6% may be relevant to board and voting dynamics.

The filing shows shared voting power for 6,709,408 shares and that Appboy holds 355,448 shares (0.32%). The calculation uses the issuer's 111,737,860 shares outstanding as of March 31, 2026.

Further disclosures (e.g., intentions, plans to vote or acquire) are not included in the provided excerpt; subsequent filings would provide any change in intent or activity.

Key Figures

Shares beneficially owned: 6,709,408 shares Ownership percentage: 6.00% Appboy direct holdings: 355,448 shares +1 more

4 metrics

Shares beneficially owned 6,709,408 shares Beneficial ownership reported by MCG7/Binder (as of March 31, 2026)

Ownership percentage 6.00% Percent of Class A Common Stock based on outstanding shares as of March 31, 2026

Appboy direct holdings 355,448 shares Appboy BH LLC direct holdings as of March 31, 2026 (0.32%)

Shares outstanding (issuer) 111,737,860 shares Issuer-reported Class A outstanding used for percentage calculation as of March 31, 2026

Key Terms

Schedule 13G/A, beneficially owned, shared dispositive power, Rule 13d-1(k)(1)(iii)

4 terms

Schedule 13G/A regulatory

"Amendment No. 5) Braze, Inc. Class A Common Stock"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned financial

"Item 4. Ownership (a) Amount beneficially owned: 6,709,408"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power financial

"Shared Dispositive Power 6,709,408.00"

Rule 13d-1(k)(1)(iii) regulatory

"AGREEMENT PURSUANT TO RULE 13d-1(k)(1)(iii) CONCERNING JOINT FILING"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does MCG7 Capital report in Braze (BRZE)?

MCG7, with subsidiaries, reports beneficial ownership of 6,709,408 shares, equal to 6.00% of Class A Common Stock as of March 31, 2026. The figure is based on the issuer's reported 111,737,860 shares outstanding on that date.

How many shares does Binder Clip Holdings LLC directly hold in Braze?

Binder directly held 6,709,408 shares of Class A Common Stock as of March 31, 2026. That holding is included in the joint filing and is counted toward the 6.00% ownership disclosed by the reporting group.

What percentage does Appboy BH LLC hold of Braze's Class A shares?

Appboy directly held 355,448 shares, representing 0.32% of Class A Common Stock as of March 31, 2026. This count is reported separately in the filing and aggregated in the joint ownership total.

Did the filing state any change in voting or disposition authority?

The disclosure states the reporting persons have shared voting and shared dispositive power over 6,709,408 shares. The filing describes the allocation of powers among MCG7, Binder, and Appboy but does not state any change in authority or plans to trade.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/14/2026 - 02:09 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Braze, Inc.

(Name of Issuer)

Class A Common Stock, $0.0001 par value per share

(Title of Class of Securities)

10576N102

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

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

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 10576N102

1

Names of Reporting Persons

MCG7 Capital Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,709,408.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,709,408.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,709,408.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: Row 6: MCG7 Capital Inc. ("MCG7") shares voting power with its indirect wholly-owned subsidiaries, Binder Clip Holdings LLC ("Binder") and Appboy BH LLC ("Appboy"). Row 8: MCG7 shares dispositive power with its indirect wholly-owned subsidiaries, Binder and Appboy. Row 11: This calculation is based on Braze, Inc. (the "Issuer") having 111,737,860 shares of Class A Common Stock, par value $0.0001 per share ("Class A Common Stock") outstanding as of March 31, 2026, as reported to MCG7 by the Issuer on April 15, 2026. Binder, the indirect wholly-owned subsidiary of MCG7, directly held 6,709,408 shares of Class A Common Stock as of March 31, 2026. Appboy, the direct wholly-owned subsidiary of Binder, directly held 355,448 shares of Class A Common Stock as of March 31, 2026. The 6,709,408 shares of Class A Common Stock directly held by Binder as of March 31, 2026 and the 355,448 shares of Class A Common Stock directly held by Appboy as of March 31, 2026 together represented 6.00% of the issued and outstanding Class A Common Stock as of March 31, 2026.

SCHEDULE 13G

CUSIP Number(s): 10576N102

1

Names of Reporting Persons

Binder Clip Holdings LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,709,408.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,709,408.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,709,408.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Row 6: MCG7 Capital Inc. ("MCG7") shares voting power with its indirect wholly-owned subsidiaries, Binder Clip Holdings LLC ("Binder") and Appboy BH LLC ("Appboy"). Row 8: MCG7 shares dispositive power with its indirect wholly-owned subsidiaries, Binder and Appboy. Row 11: This calculation is based on Braze, Inc. (the "Issuer") having 111,737,860 shares of Class A Common Stock, par value $0.0001 per share ("Class A Common Stock") outstanding as of March 31, 2026, as reported to MCG7 by the Issuer on April 15, 2026. Binder, the indirect wholly-owned subsidiary of MCG7, directly held 6,709,408 shares of Class A Common Stock as of March 31, 2026. Appboy, the direct wholly-owned subsidiary of Binder, directly held 355,448 shares of Class A Common Stock as of March 31, 2026. The 6,709,408 shares of Class A Common Stock directly held by Binder as of March 31, 2026 and the 355,448 shares of Class A Common Stock directly held by Appboy as of March 31, 2026 together represented 6.00% of the issued and outstanding Class A Common Stock as of March 31, 2026.

SCHEDULE 13G

CUSIP Number(s): 10576N102

1

Names of Reporting Persons

Appboy BH LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 355,448.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 355,448.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

355,448.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.32 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Row 6: MCG7 Capital Inc. ("MCG7") shares voting power with its indirect wholly-owned subsidiaries, Binder Clip Holdings LLC ("Binder") and Appboy BH LLC ("Appboy"). Binder shares voting power with its direct wholly-owned subsidiary, Appboy. Row 8: MCG7 shares dispositive power with its indirect wholly-owned subsidiaries, Binder and Appboy. Binder shares dispositive power with its direct wholly-owned subsidiary, Appboy. Row 11: This calculation is based on Braze, Inc. (the "Issuer") having 111,737,860 shares of Class A Common Stock, par value $0.0001 per share ("Class A Common Stock") outstanding as of March 31, 2026, as reported to Appboy by the Issuer on April 15, 2026. Appboy, the direct wholly-owned subsidiary of Binder, directly held 355,448 shares of Class A Common Stock as of March 31, 2026. The 355,448 shares of Class A Common Stock held by Appboy as of March 31, 2026 represented 0.32% of the issued and outstanding Class A Common Stock as of March 31, 2026.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Braze, Inc.
(b)	Address of issuer's principal executive offices: 63 Madison Building, 28 E. 28th Street, 12th floor mailroom, New York, NEW YORK 10016
Item 2.
(a)	Name of person filing: (i) MCG7 Capital Inc. ("MCG7") (ii) Binder Clip Holdings LLC ("Binder") (iii) Appboy BH LLC ("Appboy")
(b)	Address or principal business office or, if none, residence: The address of the principal business office of MCG7 is c/o Fasken, 550 Burrard Street, Suite 2900, Vancouver, British Columbia, V6C 0A3, Canada. The address of the principal business office of Binder is c/o Paul Hastings LLP, 200 Park Avenue, New York, NY 10166. The address of the principal business office of Appboy is c/o Aprio, 7 Penn Plaza, Suite 210, New York, NY 10001.
(c)	Citizenship: (i) MCG7: British Columbia, Canada (ii) Binder: Delaware (iii) Appboy: Delaware
(d)	Title of class of securities: Class A Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 10576N102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(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). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 6,709,408
(b)	Percent of class: 6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 6,709,408
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 6,709,408
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Binder is the wholly-owned subsidiary of MCG7. Appboy is the wholly-owned subsidiary of Binder. The three Reporting Persons are filing jointly. See attached Exhibit, "AGREEMENT PURSUANT TO RULE 13d-1(k)(1)(iii) CONCERNING JOINT SCHEDULE 13G FILING."
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

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.

MCG7 Capital Inc.

Signature:	/s/ Jacob Horowitz
Name/Title:	Director
Date:	05/14/2026

Binder Clip Holdings LLC

Signature:	/s/ Jacob Horowitz
Name/Title:	Manager
Date:	05/14/2026

Appboy BH LLC

Signature:	/s/ Jacob Horowitz
Name/Title:	Manager
Date:	05/14/2026

Exhibit Information

AGREEMENT PURSUANT TO RULE 13d-1(k)(1)(iii) CONCERNING JOINT SCHEDULE 13G FILING.