Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 171

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 171
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 Stock received by
a U.S. Holder in the Merger (including any fractional share of Clearwater Common Stock deemed to be received) will be the same as the aggregate tax basis of the shares of Enfusion Common Stock surrendered in exchange therefor in the Merger,
(i) decreased by the amount of cash Merger Consideration received in the Merger (excluding any cash received in lieu of a fractional share of Clearwater Common Stock) and (ii) increased by the amount of gain recognized in the exchange
(regardless of whether such gain is classified as capital gain or dividend income, as discussed below, but excluding gain recognized upon the receipt of cash in lieu of a fractional share of Clearwater Common Stock).

The holding period of Clearwater Common Stock received by a U.S. Holder in the Merger (including any fractional share of Clearwater Common
Stock deemed to be received) will include such U.S. Holder’s holding period for the shares of Enfusion Common Stock surrendered in the Merger. If a U.S. Holder holds different blocks of Enfusion Common Stock (generally, Enfusion Common Stock
acquired on different dates or at different prices), any gain or loss will be determined separately with respect to each block of shares of Enfusion Common Stock surrendered by such U.S. Holder in the Merger, and such U.S. Holder’s basis and
holding period in its shares of Clearwater Common Stock may be determined with reference to each block of shares of Enfusion Common Stock. Any such U.S. Holder should consult its tax advisor regarding the manner in which Merger Consideration
(including any cash in lieu of a fractional share of Clearwater Common Stock) received in the Merger should be allocated among different blocks of shares of Enfusion Common Stock and with respect to the determination of the tax bases and/or holding
periods of the particular shares of Clearwater Common Stock received in the Transactions.

106

Tax consequences to U.S. Holders if the Corporate Mergers would fail to qualify as a “reorganization” and the Second Merger is not completed

If Tax Counsel does not deliver the Opinions that the Corporate
Mergers, taken together, will qualify as a “reorganization” under Section 368(a) of the Code, the parties to the Merger Agreement do not intend to complete the Second Merger. In such case, then the receipt of the Merger Consideration
(including any cash in lieu of a fractional share of Clearwater Common Stock) in exchange for