Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 296

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 296
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 converted into and become one unit of limited liability company interests of the Surviving LLC with the same rights, powers and privileges as the units so converted and shall constitute the only limited liability company
interests of the Surviving LLC.

(h) The Exchange Ratio, and any similarly dependent item, as the case may be, shall be equitably
adjusted, without duplication, proportionately to reflect the effect of any stock split, reverse stock split, subdivision, stock dividend (including any dividend or distribution of securities convertible into the Class A Common Stock or Parent
Class A Common Stock, as applicable), reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect to the number of shares of the Class A Common Stock (including for this purpose any
securities convertible into, or exercisable for, the Class A Common Stock) or Parent Class A Common Stock having a record date occurring on or after the date of this Agreement and prior to the Effective Time to proportionately reflect such
change; , that nothing in this shall be construed to permit any party hereto to take any action with respect to its securities that is prohibited by the terms of this Agreement.

(i) Notwithstanding anything to the contrary contained herein, no certificates or scrip representing fractional shares of Parent Class A
Common Stock shall be issued upon the surrender for exchange of Certificates pursuant to this , no dividends or other distributions with respect to the Parent Class A Common Stock shall be payable on or with respect to any
fractional share, and such fractional share interests shall not entitle the owner thereof to vote or to any other rights of a stockholder of Parent. In lieu of the issuance of any such fractional share, Parent shall pay to each former stockholder of
the Company and former unitholder of the Operating Company who otherwise would be entitled to receive a fractional share of Parent Class A Common Stock an amount in cash (without interest) determined by multiplying (i) the fraction of a
share of

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Parent Class A Common Stock which such holder would otherwise be entitled to receive (taking into account all shares of Class A Common Stock or Common Units held at the Effective Time
by such holder and rounded to the nearest thousandth when expressed in decimal form) pursuant to by (ii) the Final Parent Stock Price.

(j) At the Second Effective Time (if the Second Effective Time shall occur in accordance with the terms and conditions of this Agreement), (i)
each share of common stock of the Surviving Corporation issued and