Weave Communications completes $7.40-a-share buyout
Weave’s shares ceased trading at closing as the company became a privately held subsidiary of Willow Parent.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Weave Communications, Inc. (WEAV) completed its acquisition by Willow Parent, LLC, an affiliate of Francisco Partners, and became Parent’s wholly owned subsidiary. Each eligible common share converted into a right to receive $7.40 in cash, without interest and subject to withholding; consideration payable to stockholders totaled approximately $597.46 million. The all-cash transaction was valued at approximately $650 million, and the per-share price represented an approximately 34% premium to the unaffected August 17, 2026 closing price.
At closing, Weave entered a credit agreement providing a $190 million initial term loan, a $25 million initial delayed draw term loan and a $25 million revolving facility. The obligations are secured on a first-priority basis by substantially all borrower and guarantor assets, subject to exclusions; the existing revolving line was repaid in full and terminated.
Weave’s common stock stopped trading, and the company requested NYSE delisting. The Cooperation Agreement with Engine Capital and 2717 Partners was terminated. Vested RSUs and options with exercise prices below $7.40 converted to cash; unvested awards for continuing employees remain subject to existing vesting terms.
Filing Explained
Trading had stopped, but the filing reports only a delisting request; registration termination and reporting suspension remain prospective.
At closing, continuing employees’ unvested RSUs and unvested options with exercise prices below
Weave says it intends to file Form 15 after Form 25 becomes effective, to terminate the stock’s registration and suspend reporting obligations.
8-K Event Classification
11 items: 1.01, 1.02, 2.01, 2.03, 3.01, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01
11 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 1.02
Termination of a Material Definitive Agreement
Business
A significant contract was terminated, which may affect business operations or revenue.
Item 2.01
Completion of Acquisition or Disposition of Assets
Financial
The company completed a significant acquisition or sale of business assets.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 3.01
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Securities
The company received a delisting notice, failed to satisfy a continued-listing rule or standard, or transferred its listing.
Item 3.03
Material Modification to Rights of Security Holders
Securities
A change was made that materially affects the rights of existing shareholders (e.g., dividend rights, voting rights).
Item 5.01
Changes in Control of Registrant
Governance
A change in control of the company occurred, such as through a merger, takeover, or management buyout.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Merger consideration per share: $7.40 per share
Consideration payable to stockholders: Approximately $597.46 million
Transaction value: Approximately $650 million
+4 more
7 metrics
Merger consideration per share
$7.40 per share
Cash consideration for each eligible common share
Consideration payable to stockholders
Approximately $597.46 million
Aggregate amount payable in connection with the merger
Transaction value
Approximately $650 million
All-cash transaction value stated in the announcement
Premium to unaffected closing price
Approximately 34%
Compared with the August 17, 2026 closing price
Initial term loan facility
$190 million
Aggregate principal amount under the new Credit Agreement
Initial delayed draw term loan facility
$25 million
Aggregate principal amount under the new Credit Agreement
Revolving credit facility
$25 million
Facility amount under the new Credit Agreement
Key Terms
delayed draw term loan facility, first priority basis, appraisal rights, Form 25
4 terms
delayed draw term loan facility financial
"initial delayed draw term loan facility in an aggregate principal amount of $25,000,000"
A delayed draw term loan facility is a committed loan that a borrower can tap in one or more installments at specified future times after meeting agreed conditions, rather than receiving the full amount upfront. For investors it matters because it provides a ready source of cash that can change a company’s financial strength, leverage and interest costs when drawn—similar to having a reserved credit line you can use later, which affects liquidity and the risk profile of the business.
first priority basis financial
"secured on a first priority basis by substantially all assets"
appraisal rights legal
"properly exercised and did not withdraw, appraisal rights"
A legal right that lets shareholders who dislike the price or terms of a buyout, merger or other major corporate change ask for an independent determination of the fair value of their shares instead of accepting the deal price. Think of it like asking a neutral referee to set the payout if you believe the offered price is too low. For investors, appraisal rights can provide a way to recover a higher cash value but can be slow, costly and create uncertainty around deal outcomes.
Form 25 regulatory
"notification of removal from listing and registration on Form 25"
A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How was the WEAV acquisition funded?
Funding included equity contributions from Francisco Partners VII, L.P., Francisco Partners VII-A, L.P., Francisco Partners VII-B, L.P. and Francisco Partners VII-C, L.P.; proceeds received in connection with the Credit Agreement; and Weave’s available cash balance.
What secures WEAV’s new credit agreement?
The obligations are secured on a first-priority basis by substantially all assets of the borrowers and guarantors, subject to certain exclusions and exceptions. The agreement also includes representations and warranties, covenants, events of default and other provisions described as customary for comparable facilities.
What happened to unvested WEAV employee stock awards?
For continuing employees, unvested options with exercise prices below $7.40 and unvested RSUs were converted into the opportunity to receive cash, subject to applicable vesting or settlement arrangements. Unvested options at or above $7.40 per share and unvested options or RSUs held by non-continuing employees were canceled for no consideration.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 26, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||||||||
Registrant’s telephone number, including area code: (385 ) 331-4164
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||||||||||||||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||||||||||||||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||||||||||||||||||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||||||||||||||||||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||||||||||||||||||||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Introductory Note
This Current Report on Form 8-K is being filed in connection with the completion of the previously announced Merger (as described below) pursuant to the Agreement and Plan of Merger, dated August 18, 2026 (the “Merger Agreement”), by and among Weave Communications, Inc., a Delaware corporation (the “Company”), Willow Parent, LLC, a Delaware limited liability company (“Parent”), and Willow Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”).
On October 26, 2026 (the “Closing Date”), pursuant to the Merger Agreement, Merger Sub merged with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly owned subsidiary of Parent. Parent and Merger Sub are affiliates of Francisco Partners Management, L.P. (“Francisco Partners”).
Item 1.01. Entry into a Material Definitive Agreement.
The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.
New Credit Agreement
On the Closing Date, the Company, as borrower, entered into that certain Credit Agreement, dated as of October 26, 2026 (the “Credit Agreement”), by and among the Company, Merger Sub, as initial borrower, Parent, as a guarantor, Hercules Capital, Inc., as the administrative agent and the collateral agent, and each lender from time to time party thereto, which provides for an initial term loan facility in an aggregate principal amount of $190,000,000, an initial delayed draw term loan facility in an aggregate principal amount of $25,000,000 and a revolving credit facility of $25,000,000. The obligations under the Credit Agreement are secured on a first priority basis by substantially all assets of the borrowers and the guarantors (subject to certain exclusions and exceptions). The Credit Agreement includes representations and warranties, covenants, events of default, and other provisions that are customary for facilities comparative thereto.
Item 1.02. Termination of a Material Definitive Agreement.
The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 1.02.
Termination of Existing Credit Facility
In connection with entering into the Credit Agreement described in Item 1.01 of this Current Report on Form 8-K, the Company’s existing revolving line of credit (the “Existing Credit Facility”) under that certain Second Amended and Restated Loan and Security Agreement, dated as of April 9, 2020, by and among First-Citizens Bank & Trust Company (successor by purchase to the Federal Deposit Insurance Corporation as Receiver for Silicon Valley Bridge Bank, N.A. (as successor to Silicon Valley Bank)), the Company, and Weave Communications Canada, Inc., as amended, was repaid in full, including all amounts owed thereunder, and terminated effective as of the Closing Date.
Termination of Cooperation Agreement
Effective as of the Closing Date, the Company and Engine Capital L.P. and certain of its affiliates (collectively, “Engine Capital”), and 2717 Partners LP and certain of its affiliates (collectively, “2717 Partners”) mutually agreed to terminate that certain Cooperation Agreement, dated as of March 28, 2026, by and among the parties thereto (the “Cooperation Agreement”).
Pursuant to the Cooperation Agreement, effective March 28, 2026, the Company agreed to (i) increase the size of its board of directors (the “Board”) by two directorships to consist of a total of ten directors, (ii) appoint H. Edward Robson II (“Mr. Robson”) and Ryan Dubin (“Mr. Dubin”) to the Board, effective immediately, each as a Class III director, with an initial term expiring at the Company’s 2027 annual meeting of stockholders, and (iii) as promptly as practicable, commence a search for an independent director and use its reasonable best efforts to appoint
at least one suitable candidate within six months following the date of the Cooperation Agreement (the “Additional Independent Director”), and appoint the Additional Independent Director to the Board as a Class II director, with an initial term expiring at the Company’s 2029 annual meeting of stockholders, promptly following identification of the Additional Independent Director. The Company further agreed that the Board’s size will be no greater than ten members without the written consent of Engine Capital and 2717 Partners from the conclusion of the Company’s 2026 annual meeting of stockholders, which was held on June 10, 2026, until the Termination Date (as defined in the Cooperation Agreement).
As a result of its termination, the Cooperation Agreement is of no further force or effect, and all rights and obligations of the Company, Engine Capital and 2717 Partners thereunder have been terminated.
The foregoing description of the Cooperation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Cooperation Agreement, a copy of which was previously filed as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”) on March 30, 2026, which is incorporated herein by reference.
Item 2.01. Completion of Acquisition or Disposition of Assets.
The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 2.01.
On the Closing Date, Parent completed the acquisition of the Company through the Merger. Pursuant to the Merger Agreement, at the time the Merger became effective (the “Effective Time”), each share of the Company’s common stock, par value $0.00001 per share (“Company Common Stock”), issued and outstanding as of immediately prior to the Effective Time (other than shares owned by the Company as treasury shares, owned by any subsidiary of the Company, held by Parent or Merger Sub or any of their wholly owned subsidiaries or held by stockholders of the Company who were entitled to exercise, and properly exercised and did not withdraw, appraisal rights and otherwise complied in all respects with the provisions of Section 262 of the General Corporation Law of the State of Delaware (the “DGCL”)) ceased to be outstanding, was automatically canceled and was automatically converted into the right to receive $7.40 in cash, without interest (the “Merger Consideration”), less any applicable withholding taxes.
In addition, pursuant to the Merger Agreement, at the Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, the Company, Parent, Merger Sub or any other party:
(a)each Company stock option granted under the Company’s equity compensation plans (each, a “Company Option”) that was outstanding and vested under its terms as of immediately prior to the Effective Time (each, a “Vested Company Option”) and that was then unexercised was automatically cancelled and converted into the right to receive, subject to applicable tax withholding, cash in an amount, without interest, equal to the product of (i) the total number of shares of Company Common Stock subject to such Vested Company Option immediately prior to the Effective Time, multiplied by (ii) the excess, if any, of the Merger Consideration over the exercise price per share of Company Common Stock applicable to such Vested Company Option. Notwithstanding anything to the contrary, as of the Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, the Company, Parent, Merger Sub or any other party, each Vested Company Option that was then outstanding and unexercised and that had an exercise price per share of Company Common Stock that was equal to or greater than the Merger Consideration was cancelled for no consideration;
(b)each Company Option that was outstanding and not vested under its terms as of immediately prior to the Effective Time (each, an “Unvested Company Option”) and that was then unexercised was automatically cancelled and converted into, and now represents, the opportunity to receive, subject to applicable tax withholding, an amount in cash, without interest, with respect to each share of Company Common Stock underlying such Unvested Company Option, equal to the Merger Consideration less the exercise price per share of Company Common Stock applicable to such Unvested Company Option. The payment of cash in exchange for Unvested Company Options held by a continuing employee will be subject to the same
vesting arrangements that were applicable to such Unvested Company Options immediately prior to or at the Effective Time (including, without limitation, any applicable acceleration and continued employment provisions). Therefore, cash otherwise payable in exchange for the Unvested Company Options issued and outstanding immediately prior to the Effective Time was not automatically payable by Parent or the Company at the Effective Time, and will instead become payable by the surviving corporation of the Merger on the date that such Unvested Company Options would have become vested under the vesting terms in place for such Unvested Company Options immediately prior to or at the Effective Time. Notwithstanding anything to the contrary, as of the Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, the Company, Parent, Merger Sub or any other party, each Unvested Company Option that was then outstanding and unexercised and that had an exercise price per share of Company Common Stock that was equal to or greater than the Merger Consideration or was held by a person other than a continuing employee was, in each case, automatically cancelled for no consideration;
(c)each Company restricted stock unit granted under the Company’s equity compensation plans (each, a “Company RSU”) that was outstanding and vested under its terms as of immediately prior to the Effective Time (each, a “Vested Company RSU”) and that was then outstanding and unsettled was automatically cancelled and converted into the right to receive an amount in cash, without interest, equal to the Merger Consideration, subject to applicable tax withholding;
(d)each Company RSU that was outstanding and not vested under its terms as of immediately prior to the Effective Time (each, an “Unvested Company RSU”) and that was then outstanding was automatically cancelled and converted into, and now represents, the opportunity to receive, subject to applicable tax withholding, an amount in cash, without interest, with respect to each share of Company Common Stock underlying such Unvested Company RSU, equal to the Merger Consideration. The payment of cash in exchange for Unvested Company RSUs held by a continuing employee will be subject to the same vesting arrangements that were applicable to such Unvested Company RSUs immediately prior to or at the Effective Time (including, without limitation, any applicable acceleration and continued employment provisions). Therefore, cash otherwise payable in exchange for the Unvested Company RSUs issued and outstanding immediately prior to the Effective Time was not automatically payable by Parent or the Company at the Effective Time, and will instead become payable by the surviving corporation of the Merger on the date that such Unvested Company RSUs would have become payable under the vesting and settlement terms in place for such Unvested Company RSUs immediately prior to or at the Effective Time. Notwithstanding anything to the contrary, as of the Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, the Company, Parent, Merger Sub or any other party, each Unvested Company RSU that was then outstanding and that was held by a person other than a continuing employee was automatically cancelled for no consideration; and
(e)each Company RSU that was outstanding as of immediately prior to the Effective Time and subject in whole or in part to performance-based vesting (each, a “Company PSU”) as a Vested Company RSU or Unvested Company RSU, as applicable, was automatically cancelled and converted as described in the preceding clauses (c) and (d), respectively.
The total amount of Merger Consideration payable to the stockholders of the Company in connection with the Merger was approximately $597.46 million. The funds used by Parent to consummate the Merger and complete the related transactions were sourced from a combination of (i) equity contributions from Francisco Partners VII, L.P., Francisco Partners VII-A, L.P., Francisco Partners VII-B, L.P. and Francisco Partners VII-C, L.P., investment funds affiliated with Francisco Partners, (ii) proceeds received in connection with the Credit Agreement and (iii) the available cash balance of the Company.
The foregoing description of the Merger and the Merger Agreement, and the other transactions contemplated thereby, does not purport to be complete and is qualified in its entirety by reference to the full text of the Merger Agreement, a copy of which was previously filed as Exhibit 2.1 to the Current Report on Form 8-K filed by the Company with the SEC on August 19, 2026, which is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K under the caption “New Credit Agreement” is incorporated by reference into this Item 2.03.
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
The information set forth in the Introductory Note and Item 2.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.01.
On the Closing Date, the Company notified the New York Stock Exchange (“NYSE”) of the consummation of the Merger and requested that NYSE file with the SEC a notification of removal from listing and registration on Form 25 (the “Form 25”) to delist and deregister the Company Common Stock, which traded under the symbol “WEAV,” under Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Upon effectiveness of the Form 25, the Company intends to file with the SEC a certification and notice of termination on Form 15 to terminate the registration of the Company Common Stock under Section 12(g) of the Exchange Act and to suspend the Company’s reporting obligations under Sections 13(a) and 15(d) of the Exchange Act. Trading of the Company Common Stock on NYSE was suspended prior to the opening of trading on the Closing Date.
Item 3.03. Material Modification to Rights of Security Holders.
The information set forth in the Introductory Note and under Item 2.01, Item 3.01, Item 5.01 and Item 5.03 of this Current Report on Form 8-K is incorporated by reference in this Item 3.03.
At the Effective Time, each holder of shares of Company Common Stock issued and outstanding immediately prior to the Effective Time ceased to have any rights as a stockholder of the Company, other than the right to receive the Merger Consideration as set forth in the Merger Agreement.
Item 5.01. Changes in Control of Registrant.
The information set forth in the Introductory Note and under Item 2.01, Item 3.03, Item 5.02 and Item 5.03 of this Current Report on Form 8-K is incorporated by reference in this Item 5.01.
As a result of the Merger, at the Effective Time, a change in control of the Company occurred, and the Company became a direct, wholly owned subsidiary of Parent.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The information set forth in the Introductory Note and under Item 2.01 of this Current Report on Form 8-K is incorporated by reference in this Item 5.02.
In connection with the consummation of the Merger, certain of the Company’s directors as of immediately prior to the Effective Time—being Ryan Dubin, Stuart C. Harvey Jr., Adrian McDermott, Tyler Newton, H. Edward Robson II, George P. Scanlon, David Silverman and Debora Tomlin—resigned from his or her respective position as a member of the Board, and any committee thereof, effective as of the Effective Time. In accordance with the terms of the Merger Agreement, at the Effective Time, Brett White and Jason Christiansen became the directors of the surviving corporation of the Merger.
At the Effective Time, the officers of the Company as of immediately prior to the Effective Time became the officers of the surviving corporation of the Merger, in each case, until their respective successors are duly elected or appointed and qualified or until their earlier death, resignation or removal.
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
The information set forth in the Introductory Note and under Item 2.01 of this Current Report on Form 8-K is incorporated by reference in this Item 5.03.
Pursuant to the Merger Agreement, at the Effective Time, (i) the Company’s certificate of incorporation as in effect immediately prior to the Effective Time was amended and restated in its entirety in the form attached as Exhibit A to the Merger Agreement (the “Certificate of Incorporation”) and (ii) the by-laws of Merger Sub, as in effect immediately prior to the Effective Time, became the by-laws of the Company, except that references to the name of Merger Sub were replaced by references to the name of the Company (the “By-Laws”).
Copies of the Certificate of Incorporation and the By-Laws are filed as Exhibits 3.1 and 3.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
Item 8.01. Other Events.
On October 26, 2026, the Company and Parent issued a joint press release announcing the closing of the Merger. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | ||||||||||||||||
| 2.1 | Agreement and Plan of Merger, dated August 18, 2026, by and among Weave Communications, Inc., Willow Parent, LLC and Willow Merger Sub, Inc. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K, filed with the SEC on August 19, 2026)* | ||||||||||||||||
| 3.1 | Fifth Amended and Restated Certificate of Incorporation of Weave Communications, Inc. | ||||||||||||||||
| 3.2 | First Amended and Restated By-Laws of Weave Communications, Inc. | ||||||||||||||||
| 10.1 | Cooperation Agreement, dated March 28, 2026, among Weave Communications, Inc. and the other parties thereto (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K, filed with the SEC on March 30, 2026) | ||||||||||||||||
| 99.1 | Press Release, Dated October 26, 2026 | ||||||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||||||||||||||
* Certain schedules and exhibits have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company agrees to furnish supplementally to the SEC a copy of any omitted schedule or exhibit upon request.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WEAVE COMMUNICATIONS, INC. | |||||||||||||||||
| Date: | October 26, 2026 | ||||||||||||||||
| By: | /s/ Tyler Waltman | ||||||||||||||||
| Name: | Tyler Waltman | ||||||||||||||||
| Title: | General Counsel | ||||||||||||||||
Francisco Partners Completes Acquisition of Weave
Transaction positions Weave to accelerate investment in its AI-powered platform for healthcare practices
LEHI, Utah & SAN FRANCISCO--October 26, 2026--Weave Communications, Inc. (“Weave”), a leading AI-powered patient engagement and payments platform purpose-built for healthcare practices, today announced the completion of its acquisition by Francisco Partners, a leading global investment firm that specializes in partnering with technology and technology-enabled businesses, in an all-cash transaction valued at approximately $650 million.
Under the terms of the merger agreement, Weave stockholders will receive $7.40 per share in cash, representing a premium of approximately 34% to Weave’s unaffected closing stock price on August 17, 2026, the last full trading day prior to the transaction announcement. With the completion of the transaction, Weave’s common stock has ceased trading and is no longer listed on the New York Stock Exchange.
“Today marks the start of an exciting new chapter for Weave,” said Brett White, Chief Executive Officer of Weave. “For nearly two decades, Weave has built solutions for independent practices caring for patients in communities across the country. Today, more than 40,000 locations rely on us to deepen their relationship with patients through automated communication and engagement solutions. With Francisco Partners’ support and resources, we’re well positioned to deliver even more value to the practices we serve. I want to thank our employees, whose dedication made this milestone possible.”
“Weave sits at the center of how tens of thousands of healthcare practices communicate with their patients and collect revenue,” said Ezra Perlman, Co-President at Francisco Partners. “We are pleased to officially partner with Brett and the Weave team and see significant opportunity to build on that position through continued product innovation in AI-powered patient engagement and payments solutions.”
Following the completion of the transaction, Weave will continue operations as a privately held company under the Weave name and maintain its headquarters in Lehi, Utah.
Advisors
Jefferies LLC served as exclusive financial advisor to Weave, and Orrick, Herrington & Sutcliffe LLP served as its legal counsel. Kirkland & Ellis LLP served as legal counsel to Francisco Partners.
About Weave
Weave is a leading vertical SaaS company delivering an AI-powered patient engagement and payments platform purpose-built for modern healthcare practices. More than software, Weave is an always-on teammate—handling patient interactions across voice and text and operating at the center of the patient journey. Through agentic AI workflows and authorized integrations with practice management systems, Weave ensures critical tasks like scheduling, insurance verification, and payments happen seamlessly, so nothing falls between the cracks. By embedding AI directly into daily operations, Weave reduces administrative workload, frees up staff to focus on human-centered care, and delivers real-time insights that help practices run smarter and grow with confidence. Serving over 40,000 customer locations, Weave was named a 2026 Best Software Awards winner for healthcare software products by G2. To learn more, visit getweave.com/newsroom.
1
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in over 500 technology companies, making it one of the most active and longstanding investors in the technology industry. With over $75 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for Weave following its acquisition by Francisco Partners, and other statements regarding Weave’s future expectations, beliefs, plans, objectives, financial condition, assumptions, or future events or performance that are not historical facts. These forward-looking statements are based on management’s current beliefs and on assumptions made by, and information currently available to, Weave, all of which are subject to change, and are not guarantees of future performance. Actual results may differ materially due to known and unknown risks and uncertainties, including: those associated with possible disruption to Weave’s current plans and operations due to the acquisition, including through the loss of key personnel, business partners, suppliers, and customers; and the risks described under the heading “Risk Factors” in Weave’s Annual Report on Form 10-K for the year ended December 31, 2025 and in Weave’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission (the “SEC”), available on the SEC Filings section of the Investor Relations page of Weave’s website at investors.getweave.com.
Forward-looking statements speak only as of the date of this communication, and Weave undertakes no obligation to update or supplement any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
Media Contacts
Weave: Chelsea Kilpack, Internal Communications & PR Manager, pr@getweave.com
Francisco Partners: Prosek Partners, pro-FP@prosek.com
1