Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 225

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 225
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jurisdiction, the state or federal courts in the State of Delaware.

144

OTHER MATTERS

It is not presently expected that any matters other than those discussed herein will be brought before the Special Meeting. If, however, other
matters properly come before the Special Meeting, it is the intention of the persons named in the enclosed form of proxy to vote the shares they represent as the Enfusion Board may recommend.

145

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION The following unaudited pro forma condensed combined financial information presents the pro forma effects of the acquisition of Enfusion by Clearwater. On January 10, 2025, Clearwater entered into the Merger Agreement with Enfusion, Enfusion OpCo, CWAN Acquirer, Merger Sub, and Merger Sub II. Pursuant to the terms of the Merger Agreement, (i) Merger Sub II will be merged with and into Enfusion OpCo, with Enfusion OpCo surviving the LLC Merger as an indirect subsidiary of Clearwater, (ii) Merger Sub will merge with and into Enfusion, with Enfusion surviving the Merger as a direct, wholly-owned subsidiary of Clearwater, and (iii) subject to the satisfaction of certain conditions set forth in the Merger Agreement prior to the Effective Time, the Surviving Corporation will merge with and into Acquirer, with Acquirer surviving the Second Merger as a direct, wholly-owned subsidiary of Clearwater. See the section titled “The Transactions” for additional information on the effects of the Transactions. Under the terms of the Merger Agreement, each Eligible Share that is issued and outstanding immediately prior to the Effective Time will be converted into the right, at the election of the holder of such Eligible Share, to receive, subject to proration according to the terms of the Merger Agreement to the extent any election is oversubscribed, either:

| (a) | (i) cash in an amount equal to $5.85 and (ii) a number of shares of Clearwater Common Stock equal to the Per 
 Share Parent Stock Amount;                                                                                   |

| (b) | a number of shares of Clearwater Common Stock equal to the Exchange Ratio; or |

| (c) | cash in an amount equal to the Aggregate Consideration Per Share; and |

in each case, cash in lieu of fractional shares of Clearwater Common Stock that such holder of Eligible Share would otherwise be entitled to receive. Regardless of the