Weave built its business around the small healthcare practices that larger software vendors tend to pass over. Francisco Partners has agreed to buy the company outright and take it off the stock market.
Under the terms announced in the company's August 18 press release, stockholders would receive $7.40 per share in cash, putting the deal's equity value at roughly $650 million. That represents a 34% premium to where Weave's stock closed on August 17, the last full trading day before the announcement. The company says its software is used at more than 40,000 locations.
For existing shareholders, the transaction is a clear-cut proposition: accept certain cash at a substantial premium, or vote it down and remain in a public company. The Weave board voted unanimously to approve the deal, and said it evaluated a range of strategic and financial alternatives before settling on Francisco Partners.
Shares closed 31.65% higher at $7.2800 after the deal was announced, on dollar volume of about $360 million.
The merger agreement, as filed with the SEC on August 18, states that no Weave executive has agreed to roll equity into the surviving private company or invest alongside Francisco Partners. The management team is not publicly committed to a stake in the business after the transaction closes.
The deal is expected to close in the fourth quarter of 2026, pending shareholder approval and regulatory clearance. The board has not yet called the special stockholder meeting that would put the offer to a vote.