We are investigating the fairness of the proposed sale of Weave Communications, Inc. (NYSE: WEAV) (“Weave”) to Francisco Partners for $7.40 per share in cash.
Notably, the $7.40 sale price is below Weave’s 52-week high of $7.98, which potentially indicates an opportunistic purchase below fair value.
In addition, the sale price is below the price targets of multiple Wall Street analysts covering Weave before the sale was announced, including:
- Tyler Radke of Citi ($9.00 price target)
- Alexander Sklar of Raymond James ($9.00 price target)
- Josh Nichols of B. Riley Securities ($8.25 price target)
- Mark Schappel of Loop Capital Markets ($8.00)
(Source: TipRanks)
If you remain a Weave shareholder and have concerns about the fairness of the proposed sale, you may contact our firm by completing and submitting the form below.
“We are investigating whether the Weave Board of Directors acted in the best interests of Weave shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the cash consideration agreed upon is fair to Weave shareholders considering the stock’s recent trading history, and whether all material information regarding the transaction has been fully disclosed. We encourage Weave stockholders to contact us if they have any concerns.”