Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 173

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 173
---
vals

HSR Act and U.S. Antitrust Matters. The Transactions are subject to the requirements of the HSR Act, which prevents Enfusion and
Clearwater from completing the Transactions until required information and

109

materials are furnished to the Antitrust Division of the DOJ and the FTC and the HSR Act waiting period is terminated or expires. A transaction notifiable under the HSR Act may not be completed until the expiration of a 30-calendar-daywaiting period following the parties’ filings of their respective HSR Act notification forms or the early termination of that waiting period. The parties may also choose to voluntarily re-startthe initial 30-calendar-daywaiting period by following certain prescribed procedures. After the expiration of the initial waiting period (or the re-startedinitial waiting period), the Antitrust Division of the DOJ or the FTC may issue a Request for Additional Information and Documentary Material (referred to as a second request). If a second request is issued, the parties may not complete the Transactions until they substantially comply with the second request and observe a second 30-calendar-daywaiting period, unless the waiting period is terminated earlier, or the parties commit not to close for some additional period of time. Enfusion and Clearwater submitted the requisite notification and report forms under the HSR Act on January 24, 2025. On February 24, 2025, the waiting period under the HSR Act expired, satisfying the Regulatory Approval condition to the Closing of the Transactions. Exchange of Shares; Elections as to Form of Consideration At the Effective Time and the LLC Merger Effective Time, each Eligible Share (other than Eligible Shares (i) owned or held in the treasury of Enfusion or Enfusion OpCo, (ii) owned by a Dissenting Holder and (iii) owned by the Buyer Parties, Enfusion, Enfusion US 1, Inc., Enfusion US 2, Inc., Enfusion US 3, Inc. or any other subsidiary of Enfusion) will be converted into the right to receive, at the election of the holder of such Eligible Share and subject to the allocation procedures set forth in the Merger Agreement, the Merger Consideration. No fractional shares of Clearwater Common Stock will be issued, and Enfusion Stockholders will instead receive cash in lieu of fractional shares of Clearwater Common Stock. The total number of Eligible Shares to be entitled to receive the cash consideration will be equal to approximately 52% of the aggregate number of Eligible Shares, and the total number