Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 89

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 89
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 Goodwin
discussed various scenarios and the possibility of forming a special committee of independent and disinterested directors in light of the facts and circumstances, including to proactively address the possibility that a prospective buyer might
request rollover by certain stockholders of Enfusion of their equity interests in Enfusion and/or a waiver or reduction of the change-of-control payments due to the TRA
Parties pursuant to the TRA. The Enfusion Board directed Goodwin to take steps that would assist with the formation of a special committee, including to assess each director’s independence to potentially serve on such a committee in light of
the facts and circumstances, and to ascertain the strategic intentions of FTV IV, L.P. (“”), ICONIQ Capital, LLC and/or certain affiliated investment entities (“”) and Oleg Movchan, as a representative of
CSL Tech Holdings, LLC (“”), each of which is a stockholder of Enfusion and a recipient of certain payments under the TRA, including in connection with a change of control of Enfusion. Bradford E. Bernstein, a representative
of FTV, Roy Luo a representative of ICONIQ, and Oleg Movchan, a representative of CSL Tech, were and are each a member of the Enfusion Board.

58

On August 9, 2024, the Enfusion Board held a meeting with representatives of
Enfusion management and Goodwin in attendance. The Enfusion Board discussed the formation of a special committee and that, since one member of the Enfusion Board was not in attendance, a proposal to form such a committee would be presented for
approval by the unanimous written consent of all members of the Enfusion Board. Representatives of Goodwin also reviewed certain declarations made by each of ICONIQ and Mr. Movchan, and to be made by FTV, at the request of the Enfusion Board.
The declarations stated that, at that time, none of FTV, ICONIQ or Mr. Movchan had an interest in acquiring Enfusion or had an intention to proactively seek a rollover of their equity interests in Enfusion in a potential transaction and did not
presently regard a rollover to be a condition to supporting a transaction and that they would promptly inform Goodwin if any of these declarations were to change. The declarations also stated that, unless approved in advance by the Special
Committee, none of FTV, ICONIQ or Mr. Movchan would enter into discussions or negotiations with any potential buyer, nor with each other, regarding rollover, participating in