Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 57

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 57
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complete the Transactions as promptly as practicable, many of the conditions to Closing are not within Clearwater’s or Enfusion’s control, and neither company can predict when or if these conditions will be satisfied. If any of these
conditions are not satisfied or waived prior to July 9, 2025, it is possible that the Merger Agreement will be terminated. The failure to satisfy all of the required conditions could delay the completion of the Transactions for a significant
period of time or prevent it from occurring. Any delay in completing the Transactions could cause Clearwater not to realize some or all of the benefits that it expects to achieve if the Transactions are successfully completed within their expected
timeframe. There can be no assurance that the conditions to Closing will be satisfied or waived or that the Transactions will be completed. See the risk factor titled “—Failure to complete the Transactions could negatively affect the stock
price and the future business and financial results of Enfusion,” below.

In the event that the parties determine to waive any of the
conditions to the Closing of the Transactions, such decision may have an adverse effect on Clearwater and Enfusion and their respective stockholders. For example, if Clearwater and Enfusion waive the condition that the shares of Clearwater Common
Stock to be issued to Enfusion Stockholders in the Merger must be approved for listing on the NYSE and close the Transactions, the shares of Clearwater Common Stock issued to Enfusion Stockholders at the Closing would not be listed on a stock
exchange until the NYSE has approved the listing application, and the ability of Enfusion Stockholders to trade such shares would be adversely affected. By way of further example, if Enfusion waives the condition that there be no material adverse
effect on Clearwater that has occurred, the value of the consideration received by Enfusion Stockholders could be materially diminished.

The transactions are subject to the expiration of applicable waiting periods and the receipt of approvals, consents or clearances from regulatory authorities in the United States that could have an adverse effect on

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Clearwater, Enfusion or following the completion of the Transactions, Clearwater or, if not obtained, could prevent completion of the Transactions. Before the Transactions may be completed, any waiting period (or extension thereof) applicable to the Transactions must have expired or been terminated, and any approvals, consents or clearances required in connection with the Transactions must have been obtained, in each case, under the HSR Act. In addition, the Transactions may be reviewed under antitrust