Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 62

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 62
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water Stockholders and former Enfusion Stockholders will own interests in a combined company
operating an expanded business with more assets and a different mix of liabilities. Clearwater’s financial position after the Transactions may differ from its financial position before the Transactions, and the financial position, results of
operations and cash flows of the combined company may be affected by factors that are different from those currently or historically affecting the results of operations of Clearwater and those currently or historically affecting the results of
operations of Enfusion. Accordingly, the

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market price and performance of Clearwater Common Stock is likely to be different from the performance of Clearwater Common Stock or Enfusion Common Stock in the absence of the Transactions, which may adversely affect the value of a Enfusion Stockholder’s investment following completion of the Transactions, regardless of the combined company’s actual operating performance. Following completion of the Transactions, the market price of Clearwater Common Stock may be volatile, and holders of Clearwater Common Stock could lose a significant portion of their investment due to drops in the market price of Clearwater Common Stock following completion of the Transactions. Following the Transactions, the market price of Clearwater Common Stock may be volatile, and stockholders may not be able to resell their shares of Clearwater Common Stock at or above the price at which they acquired their shares pursuant to the Merger Agreement or otherwise due to fluctuations in its market price, including changes in price caused by factors unrelated to Clearwater’s performance or prospects. Specific factors that may have a significant effect on the market price of Clearwater Common Stock include:

| • |     | changes in stock market analyst recommendations or earnings estimates regarding Clearwater Common Stock or other 
 comparable companies;                                                                                            |

| • |     | actual or anticipated fluctuations in Clearwater’s revenue stream or future prospects; |

| • |     | reaction to public announcements by Clearwater before or after the Transactions; |

| • |     | strategic actions taken by Clearwater or its competitors, such as acquisitions; |

| • |     | potential future public offerings of Clearwater Common Stock, which may dilute stockholders; |

| • |     | the failure of Clearwater to achieve the perceived benefits of the Transactions, including expected financial                  
 results and anticipated synergies, as rapidly as or to the extent anticipated by Clearwater or financial or industry analysts; |

| • |     | new laws or regulations or new interpretations of existing laws or regulations applicable to Clearwater’s 
 business and operations;                                                                                  |

| • |     | changes in tax or