WW to acquire Sequence for $132M in cash, stock

WW has entered into a definitive agreement to acquire Weekend Health, Inc., d/b/a Sequence, a subscription telehealth platform offering access to healthcare providers specializing in chronic weight management. Sequence integrates the patient and clinician experience for ongoing, clinical care and medication management while providing support in navigating the insurance approval process. Pursuant to the terms of the merger agreement, WW will acquire Sequence in a cash and equity transaction valued at $132M, inclusive of a minimum of $26M of Sequence’s cash. The effective net purchase price is $106M. The $132M will be paid as follows: $100 million at the closing of the transaction, of which $65 million will be paid in cash and $35M in the form of 8.065 million newly issued shares of common stock of WW; $16M in cash on the first anniversary of the closing and $16M in cash on the second anniversary of the closing. The transaction, which is subject to customary closing conditions, is expected to close during the second quarter of 2023.