Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 2

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 2
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 (x) if the Final Parent Stock Price is less than or equal to $25.0133, then the Per Share Parent Stock
Amount will be deemed to be 0.2159 and (y) if the Final Parent Stock Price is greater than or equal to $30.5718, then the Per Share Parent Stock Amount will be deemed to be 0.1766. The “” will
be determined by dividing the Aggregate Consideration by the total number of Eligible Shares. The “” will be determined as the sum of (i) a number of shares of Clearwater Common Stock equal to the product
of (x) the Per Share Parent Stock Amount multiplied by (y) the total number of Eligible Shares multiplied by (z) the Final Parent Stock Price and (ii) the product of $5.85 multiplied by the total number of Eligible Shares. The
“” will be determined by dividing the Aggregate Consideration Per Share by the Final Parent Stock Price.

Accordingly, if the Final Parent Stock Price were between $25.0133 and $30.5718, the implied value of the Aggregate Consideration Per Share
would be $11.25; if the Final Parent Stock Price were greater than $30.5718, the implied value of the Aggregate Consideration Per Share would be greater than $11.25; and if the Final Parent Stock Price were less than $25.0133, the implied value of
the Aggregate Consideration Per Share would be less than $11.25. The Final Parent Stock Price and the actual value of the Per Share Mixed Consideration, the Per Share Stock Consideration and the Per Share Cash Consideration will depend on the
trading price of Clearwater Common Stock, which is subject to fluctuation, including during the period until the Closing Date. Shares of Enfusion Common Stock are listed on the New York Stock Exchange under the symbol “ENFN.” Shares of
Clearwater Common Stock are listed on the New York Stock Exchange under the symbol “CWAN.” We encourage you to obtain current market quotations for both Enfusion Common Stock and Clearwater Common Stock.

Additionally, at the Effective Time, each share of Class B common stock of Enfusion, par value $0.001 per share (“” and holders of Enfusion Common Stock and Enfusion Class B Common Stock collectively, the “”), that is issued and outstanding immediately prior to the
Effective Time will be automatically cancelled and cease to exist and no consideration will be delivered in exchange