Pelion Ventures VI Amends Weave Communications Stake

TL;DR

**Pelion Ventures VI updated their Weave Communications stake, watch for ownership changes.**

AI Summary

Pelion Ventures VI, L.P. filed an amended SC 13G/A on January 31, 2024, indicating a change in their beneficial ownership of Weave Communications, Inc. common stock as of December 31, 2023. This filing, an amendment (No. 2), updates their previous disclosures regarding their stake in Weave Communications, Inc. (NYSE: WEAV). This matters to investors because it provides transparency into significant institutional holdings and potential shifts in major investor confidence, which can influence stock perception and trading activity.

Why It Matters

This filing shows an update to a significant investor's position, which can signal their ongoing confidence or changing strategy regarding Weave Communications, Inc. stock.

Risk Assessment

Risk Level: low — This is a routine amendment filing (SC 13G/A) by an institutional investor, not indicating any immediate high-risk event.

Analyst Insight

Investors should monitor subsequent filings from Pelion Ventures VI, L.P. to track any further changes in their beneficial ownership of Weave Communications, Inc., as significant shifts could indicate a change in institutional sentiment.

Key Numbers

• 94724R108 — CUSIP Number (Identifies Weave Communications, Inc. common stock)
• December 31, 2023 — Date of Event (The date as of which the ownership information is reported)
• January 31, 2024 — Filing Date (The date the SC 13G/A amendment was filed with the SEC)
• Amendment No. 2 — Filing Amendment Number (Indicates this is the second amendment to Pelion Ventures VI, L.P.'s Schedule 13G for Weave Communications, Inc.)

Key Players & Entities

• Pelion Ventures VI, L.P. (company) — Reporting Person
• Weave Communications, Inc. (company) — Subject Company (Issuer)
• BLAKE G. MODERSITZKI (person) — Group Member
• PELION VENTURE PARNTERS VII, L.L.C. (company) — Group Member
• PELION VENTURE PARTNERS VI, L.L.C. (company) — Group Member
• PELION VENTURES VI-A, L.P. (company) — Group Member
• PELION VENTURES VII L.P. (company) — Group Member
• PELION VENTURES VII-A, L.P. (company) — Group Member
• PELION VENTURES VII-ENTREPRENEURS FUND, L.P. (company) — Group Member

Forward-Looking Statements

• Pelion Ventures VI, L.P. will continue to be a significant institutional holder of Weave Communications, Inc. stock. (Pelion Ventures VI, L.P.) — medium confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.00001 — Inc. (Name of Issuer) Common stock, $0.00001 par value per share (Title of Class o

Filing Documents

• tm244532d1_sc13ga.htm (SC 13G/A) — 139KB
• 0001104659-24-008572.txt ( ) — 141KB

From the Filing

SC 13G/A 1 tm244532d1_sc13ga.htm SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* Weave Communications, Inc. (Name of Issuer) Common stock, $0.00001 par value per share (Title of Class of Securities) 94724R108 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise CUSIP No. 94724R108 1. Names of Reporting Persons Pelion Ventures VI, L.P. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) (1) 3. SEC Use Only 4. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 0 6. Shared Voting Power 4,535,789 shares (2) 7. Sole Dispositive Power 0 8. Shared Dispositive Power 4,535,789 shares (2) 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,535,789 shares (2) 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 6.5% (3) 12. Type of Reporting Person (See Instructions) PN (1) This Schedule 13G is filed by Pelion Ventures VI, L.P. (“Fund VI”), Pelion Ventures VI-A, L.P. (“Fund VI-A”), Pelion Venture Partners VI, L.L.C. (“GP VI”), Pelion Ventures VII L.P. (“Fund VII”), Pelion Ventures VII-A L.P. (“Fund VII-A”), Pelion Ventures VII-Entrepreneurs Fund, L.P. (“Fund VII-E”), Pelion Venture Partners VII, L.L.C. (“GP VII”) and Blake G. Modersitzki (“Modersitzki” and, with Fund VI, Fund VI-A, GP VI, Fund VII, Fund VII-A, Fund VII-E and GP VII, collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G. (2) Shares are held directly by Fund VI. GP VI is the general partner of Fund VI. Modersitzki, as the Managing Member of GP VI, shares voting and investment authority over these shares. (3) This percentage is calculated based upon 69,474,011 shares of common stock outstanding as of November 3, 2023, as reported in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on November 8, 2023. 2 CUSIP No. 94724R108 1. Names of Reporting Persons Pelion Ventures VI-A, L.P. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) (1) 3. SEC Use Only 4. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 0 6. Shared Voting Power 310,138 shares (2) 7. Sole Dispositive Power 0 8. Shared Dispositive Power 310,138 shares (2) 9. Aggregate Amount Beneficially Owned by Each Reporting Person 310,138 shares (2) 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 0.4% (3) 12. Type of Reporting Person (See Instructions) PN (1) This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G. (2) Shares are held directly by Fund VI-A. GP VI is the general partner of Fund VI-A. Modersitzki, as the Managing Member of GP VI, shares voting and investment authority over these shares. (3) This percentage is calculated based upon 69,474,011 shares of common stock outstanding as of November 3, 2023, as reported in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on November 8, 2023. 3 CUSIP No. 94724R108 1. Names of Reporting Persons Pelion Venture Partners VI, L.L.C. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) (1) 3. SEC Use Only 4. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 0 6. Shared Voting Power 4,845,927 shares (2) 7. Sole Dispositive Power 0 8. Shared Dispositive Power 4,845,927 shares (2) 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,845,927 shares (2) 10. Check if the Aggregate Amount in Row (9) Excludes Certain Sh

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