SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
		FORM 8-K
		Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
	Date of Report (Date of earliest event reported): June 27, 2001
Metawave Communications Corporation (Exact name of Registrant as specified in its charter)
Delaware (State or other jurisdiction of incorporation or organization)					0-24673 (Commission File Number)	91-1673152 (I.R.S. Employer Identification No.)
				10735 Willows Road NE, Redmond, WA 98052 (Address of principal executive offices)(Zip Code)
			(425) 702-5600 (Registrant's telephone number, including area code)

Item 5.				Other Events.
	On June 29, 2001, Metawave Communications Corporation (the "Company") issued 632,111 shares of the Company's common stock to Acqua Wellington North American Equities Fund Ltd. ("Acqua Wellington") pursuant to a purchase agreement entered into on June 27, 2001 between the Company and Acqua Wellington.           The full text of the purchase agreement in connection with the foregoing is filed as Exhibit 99.1. The shares of the Company common stock sold to Acqua Wellington are registered under our Registration Statement on Form S-3 (Registration No. 333-61470).
Item 7.				Financial Statements and Exhibits
	(c)	Exhibits.
			99.1		Purchase Agreement between Metawave Communications Corporation and Acqua Wellington North American Equities Fund Ltd. dated June 27, 2001.

	SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
		METAWAVE COMMUNICATIONS CORPORATION (Registrant)
Date: July 2, 2001		By:  /s/ Kathryn Surace-Smith                         Kathryn Surace-Smith           Vice President, General Counsel           and Secretary

	INDEX TO EXHIBITS
Exhibit Number	Description
99.1	Purchase Agreement between Metawave Communications Corporation and Acqua Wellington North American Equities Fund Ltd. dated June 27, 2001.