Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 241

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 241
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) interest expense of $3.8 million on the existing term loan that is assumed to be repaid as                                    
 of January 1, 2024.                                                                                                                                                                                                                  |

| d. | Represents the tax effect of interest expense adjustment. |

163

COMPARISON OF RIGHTS OF COMMON STOCKHOLDERS OF CLEARWATER AND ENFUSION Clearwater and Enfusion are both incorporated under the laws of the state of Delaware. If the Transactions are completed, the rights of Enfusion Stockholders who become Clearwater Stockholders will be, and the rights of Clearwater Stockholders will continue to be, governed by the DGCL, the Amended and Restated Certificate of Incorporation of Clearwater (the “ Clearwater Charter”) and the Amended and Restated Bylaws of Clearwater (the “ Clearwater Bylaws”). The following is a summary of the material differences between (i) the current rights of Clearwater Stockholders under the Clearwater Charter and the Clearwater Bylaws and (ii) the current rights of Enfusion Stockholders under the Amended and Restated Certificate of Incorporation of Enfusion (the “ Enfusion Charter”) and the Amended and Restated Bylaws of Enfusion (the “ Enfusion Bylaws”). The following summary is not a complete description of the specific provisions referred to below. The summary is qualified in its entirety by reference to Clearwater’s and Enfusion’s respective governing documents, which we urge you to read carefully and in their entirety. Copies of the Clearwater Charter, the Clearwater Bylaws, the Enfusion Charter and the Enfusion Bylaws have been filed with the SEC and are available, without charge, to any person, including any beneficial owner to whom this document is delivered, by following the instructions in the section titled “Where You Can Find More Information.”

|                          |     | Enfusion                                                                                                                                                                                                                                           |     | Clearwater                                                                                                                                                                                                             |
| Authorized Capital Stock |     | Enfusion has authority to issue 1,000,000,000 shares of Enfusion Common Stock, 150,000,000 shares of Enfusion Class B Common Stock and                                                                                                             
 100,000,000 shares of preferred stock, par value $0.001 per share.   As of                                                                                                                                                                         
 February 5, 2025, Enfusion had 94,769,479 shares of Enfusion Common Stock, 34,198,767 shares of Enfusion Class B Common Stock, and no shares of preferred stock issued and outstanding.                                                            |