WEAV targeted in $650M Francisco Partners takeover bid

Francisco Partners Management agreed on August 18 to acquire Weave Communications for approximately $650 million. The deal has not yet closed — an agreement is an authorization to proceed, not a completed transaction.

For current holders, the announcement typically pushes the share price toward the offer value. Short sellers face a different pressure: with 8.2% of the free float sold short and nearly 5.3 million shares borrowed, any sharp price move toward deal price compresses the short thesis and could prompt covering. Cost to borrow sits at just 0.47%, so borrowing remains cheap for now, but that can change quickly as the deal timeline becomes clearer. Shorts who hold through a completed acquisition would be bought in at the deal price.