Weave hit with two merger suits and 13 demand letters; supplements proxy valuation disclosures

Weave Communications, Inc.

Two stockholder suits filed Sept 29, 2026 in NY Supreme Court (Johnson v. Weave; Clark v. Weave) seek to enjoin the merger over alleged proxy disclosure deficiencies; 13 demand letters received.
Weave denies merit but voluntarily supplements its Sept 25, 2026 proxy; special meeting on the Francisco Partners deal remains set for Oct 22, 2026 at 10:00 a.m. ET.
Jefferies DCF implies $6.25-$8.08/share (11.0-12.0% discount rate, 4.0-5.0% perpetuity growth); precedent transactions imply $6.60-$9.51/share.
Management projections disclosed: 2026E revenue $279.6M, 2027E revenue $328.1M, 2027E Adjusted EBITDA $30.5M; NOL carryforwards estimated at $227.5M.
LTM revenue $257.8M as of June 30, 2026; net cash $64.0M (cash and short-term investments $78.5M less $14.5M finance leases); 87.9M fully diluted shares.

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