Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 95

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 95
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 special committees in connection with the review and implementation of strategic alternatives, including strategic transactions, and further directed Dechert to negotiate an engagement letter with Goldman Sachs.

On September 16, 2024, at the direction of the Special Committee, representatives of Dechert shared the revised Management
Guidelines with the General Counsel and Assistant General Counsel of Enfusion for further distribution to the management team of Enfusion.

On September 19, 2024, the closing price for shares of Enfusion Common Stock on the NYSE was $8.55 per share (the
“”). The next day, on September 20, 2024, prior to the close of trading, Reuters published an article stating that Enfusion was in talks with investment banks to evaluate options that could include a
potential sale. The closing price for shares of Enfusion Common Stock on September 20, 2024, was $8.98 per share.

On
September 23, 2024, the Special Committee held a meeting with representatives of Dechert in attendance. Representatives of Dechert briefed the Special Committee on the negotiations of the engagement letter with Goldman Sachs. The Special
Committee also delegated certain authority to the chair of the Special Committee, including that the chair could make decisions on behalf of the Special Committee with respect to certain administrative matters. The Special Committee discussed the
September 20, 2024 Reuters article and the leak strategy that the Special Committee had previously reviewed with representatives of Dechert and directed Dechert to instruct Enfusion management to respond with “no comment” to any
related inquiries from the press or other third parties. Representatives of Goldman Sachs then joined the meeting and made a presentation to the Special Committee, including regarding a potential strategic alternatives review process. The Special
Committee discussed that the purpose of the Special Committee at that time was to review all strategic alternatives and was not necessarily to initiate a sale process, but instead to determine whether it was the right time, in view of the best
interests of Enfusion Stockholders generally, to explore a sale of Enfusion or another strategic alternative to remaining a standalone company. The Special Committee directed representatives of Goldman Sachs to promptly prepare an analysis to assist
the Special Committee in its review of all strategic alternatives, including whether it was the right time to explore a sale of Enfusion or another strategic alternative.

Later on September 23, 2024, the Special Committee formally engaged Goldman Sachs as the financial advisor to the Special Committee.

On September 27,