Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 56

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 56
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 from regulatory authorities in the United States that could have an adverse effect on 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 statutes or foreign direct
investment regimes of other governmental authorities, including U.S. state laws. In deciding whether to grant the required regulatory approval, consent or

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clearance, the relevant governmental entities will consider the effect of the Transactions on competition within their relevant jurisdiction. The terms and conditions of the approvals, consents and clearances that are granted may impose requirements, limitations or costs or place restrictions on the conduct of Clearwater’s business following the completion of the Transactions. Under the Merger Agreement, Clearwater and Enfusion have agreed to use their reasonable best efforts to obtain such approvals, consents and clearances and therefore may be required to comply with conditions, terms, obligations or restrictions imposed by governmental authorities. There can be no assurance that such conditions, terms, obligations or restrictions will not have the effect of delaying completion of the Transactions or imposing additional material costs on or materially limiting the revenues of Clearwater following the completion of the Transactions. In addition, neither Clearwater nor Enfusion can provide assurance that any such conditions, terms, obligations or restrictions will not result in the delay or abandonment of the Transactions. See the sections titled “The Transactions—Regulatory Clearances and Approvals” and “The Merger Agreement—Conditions to the Transactions.” Enfusion’s directors and executive officers have interests in the Transactions that may be different from, or in addition to, your interests as a stockholder of Enfusion more generally. When considering the recommendation of the Enfusion Board that Enfusion Stockholders vote in favor of the Merger Agreement Proposal and the Adjournment Proposal, Enfusion Stockholders should be aware of the fact that, aside from their interests as Enfusion Stockholders, certain Enfusion directors and executive officers have interests in the Transactions that may be different from, or in addition to, the interests of Enfusion Stockholders generally. These interests include:

| • |     | rights to continuing indemnification and directors’ and officers’ liability insurance; |

| • |     | certain