Company: CWAN
Filing Date: 2025-04-21
Form Type: 8-K
Source: 0001193125-25-087277
Chunk: 5

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-04-21
Form: 8-K
Item: Item 2.01
Chunk 5
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Item 2.01.      Completion of Acquisition or Disposition of Assets.  

As discussed in the Introductory Note, which is incorporated into this Item 2.01 by reference, on April 21, 2025, Clearwater completed its previously announced acquisition of Enfusion pursuant to the Merger Agreement. Pursuant to the terms of the Merger Agreement, (i) at the effective time of the First Merger (the “ Effective Time”), among other things, each (x) share of Class A common stock of Enfusion, par value $0.001 per share, that was issued and outstanding immediately prior to the Effective Time (other than shares owned by Enfusion, Clearwater or any of their respective wholly-owned subsidiaries, in each case not held on behalf of third parties) (“ Enfusion Common Stock”) and (y) restricted stock unit of Enfusion that was vested as of immediately prior to the Effective Time or that vested in accordance with its terms as a result of the consummation of the Mergers (“ Enfusion Vested RSUs”) and (ii) at the effective time of the LLC Merger (the “ LLC Merger Effective Time”), each unit of common limited liability company membership interest (other than units owned by Enfusion, Clearwater or any of their respective wholly-owned subsidiaries, in each case not held on behalf of third parties) in Enfusion OpCo outstanding as of immediately prior to the LLC Merger Effective Time (“ Enfusion Common Unit” and together with Enfusion Common Stock and Enfusion Vested RSUs, each, an “ Eligible Share”) was automatically cancelled and ceased to exist and was converted into the right, at the election of the holder of such Eligible Share, to elect to receive (together, the “ Merger Consideration”), subject to proration according to the terms of the Merger Agreement, either:

  (1)      (i) cash in an amount equal to $5.85 and (ii) a number of shares of Class A common stock of Clearwater, par value $0.001 per share (the “ Clearwater Common Stock ”) equal to the Per Share Paren...  

  (2)      a number of shares of Clearwater Common Stock equal to the Exchange Ratio (as defined herein) (the “ Per Share Stock Consideration ”); or  

  (3)      cash in an amount equal to the Aggregate Consideration Per Share (as defined herein) (the “ Per Share Cash Consideration ”);