Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 234

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 234
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 Clearwater entered into the Debt Commitment Letter for a seven-year term loan credit agreement (“ 2025 Term Loan”) which provides 148

Clearwater with the ability to borrow up to $800 million at the consummation of the Transactions, subject to the satisfaction of customary closing conditions for similar facilities, for the purpose of financing a portion of the cash consideration and paying related fees and expenses in connection with the Transactions and the other transactions contemplated by the Merger Agreement. Clearwater will also enter into a revolving credit facility agreement that provides an unsecured $200 million revolving loan facility with a tenure of five years. Clearwater believes that no draw down on the revolving facility is required to complete the Transactions as cash on hand and the availability of funds under the 2025 Term Loan will provide sufficient cash availability to cover the anticipated requirement to fund the Transactions at the time of Closing. The unaudited pro forma condensed combined financial information assumes that the cash portion of the Transactions will be funded through a combination of cash on hand of Clearwater as of December 31, 2024, cash on hand of Enfusion as of December 31, 2024, and borrowings under the 2025 Term Loan. The total borrowings of $800 million under the 2025 Term Loan will be used to (a) finance the Transactions, (b) pay the costs of the Transactions, and (c) refinance Clearwater’s existing term loan. Debt issuance costs are expected to be incurred for the 2025 Term Loan and will be amortized over the agreement term. These assumptions and expectations are preliminary and subject to change, and the debt issuance costs to be incurred and related interest expense could vary significantly from what is assumed in the unaudited pro forma condensed combined financial information. Other factors that are subject to change include, but are not limited to, the timing of borrowings, the amount of cash on hand at the time of the Closing and interest rate determination on debt instruments issued. The unaudited pro forma condensed combined financial information was derived from and should be read in conjunction with:

| • |     | the accompanying notes to the unaudited pro forma condensed combined financial information; |

The unaudited pro forma condensed combined financial information should also be read together with the Management’s Discussion and Analysis of Financial Condition and Results of Operations of Clearwater and Enfusion included in their respective periodic reports filed with the SEC and incorporated by reference in this Proxy Statement/Prospectus. The unaudited pro forma condensed combined financial