Weave Communications, Inc. filed a Form 8-K on October 26, 2026, disclosing the completion of its merger with Willow Merger Sub, Inc., a wholly owned subsidiary of Willow Parent, LLC, an affiliate of Francisco Partners Management, L.P., pursuant to a Merger Agreement dated August 18, 2026.

Key Highlights

  • Merger closed October 26, 2026: Willow Merger Sub, Inc. merged with and into Weave Communications, with the company surviving as a wholly owned subsidiary of Willow Parent, LLC, an affiliate of Francisco Partners.
  • Cash consideration of $7.40 per share: Each outstanding share of common stock (par value $0.00001) was canceled and converted into the right to receive $7.40 in cash, without interest, less applicable withholding taxes.
  • New credit facility totaling $240 million: The company entered into a Credit Agreement with Hercules Capital, Inc. as administrative and collateral agent, providing a $190,000,000 initial term loan, a $25,000,000 delayed draw term loan, and a $25,000,000 revolving credit facility.
  • Existing credit facility terminated: The company's prior revolving line of credit with First-Citizens Bank & Trust Company was repaid in full and terminated effective October 26, 2026.
  • Cooperation Agreement terminated: The Cooperation Agreement dated March 28, 2026, among the company, Engine Capital L.P., and 2717 Partners LP was mutually terminated as of the closing date, with all rights and obligations of the parties ending.
  • Vested in-the-money options cashed out: Each vested, unexercised company stock option was canceled and converted into the right to receive cash equal to the excess of $7.40 over the applicable exercise price; options with an exercise price at or above $7.40 were canceled for no consideration.

Weave Communications Completes Go-Private Transaction with Francisco Partners

According to the filing, on October 26, 2026 (the "Closing Date"), Willow Merger Sub, Inc. merged with and into Weave Communications, Inc., with Weave surviving as a wholly owned subsidiary of Willow Parent, LLC. Parent and Merger Sub are described in the filing as affiliates of Francisco Partners Management, L.P. The transaction was conducted pursuant to the Agreement and Plan of Merger, dated August 18, 2026. Prior to the merger, Weave Communications, Inc. traded on the New York Stock Exchange under the symbol NYSE:WEAV.

The filing states that at the effective time of the merger, each share of company common stock issued and outstanding immediately prior to the effective time (with certain exceptions, including treasury shares, shares held by subsidiaries, shares held by Parent or Merger Sub, and shares held by stockholders properly exercising appraisal rights under Section 262 of the Delaware General Corporation Law) was automatically canceled and converted into the right to receive $7.40 in cash, without interest. Each vested, unexercised company stock option with an exercise price below $7.40 was canceled and converted into a cash payment equal to the excess of $7.40 over the applicable exercise price; options with an exercise price equal to or greater than $7.40 were canceled for no consideration, according to the filing.

On the Closing Date, the company also entered into a new Credit Agreement with Hercules Capital, Inc. serving as both administrative agent and collateral agent. The filing discloses the credit facilities include an initial term loan of $190,000,000, a delayed draw term loan of $25,000,000, and a revolving credit facility of $25,000,000, with obligations secured on a first priority basis by substantially all assets of the borrowers and guarantors, subject to certain exclusions. Simultaneously, the company's prior revolving line of credit with First-Citizens Bank & Trust Company was repaid in full and terminated. The filing also notes the termination of a Cooperation Agreement originally dated March 28, 2026, among the company, Engine Capital L.P. and certain affiliates, and 2717 Partners LP and certain affiliates, with all rights and obligations of the parties thereunder described as having ended.

What Was Disclosed

Weave Communications disclosed the October 26, 2026 closing of its acquisition by Francisco Partners-affiliated entities at $7.40 per share in cash, the entry into a new $240 million credit facility with Hercules Capital, the termination of its prior credit facility, and the termination of a Cooperation Agreement with Engine Capital and 2717 Partners.