Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 163

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 163
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ification; Directors’ and Officer’s Insurance The Merger Agreement provides that directors and officers of Enfusion will have the right to indemnification and continued coverage under directors’ and officers’ liability insurance policies for a period of 101

six years following the Effective Time. For additional information, see the section titled “The Merger Agreement—Director and Officer Indemnification and Insurance.”

Arrangements with Clearwater

As
of the date of this Proxy Statement/Prospectus, none of Enfusion’s executive officers has had any discussions or negotiations, or entered into any agreement, with Clearwater or any of its affiliates regarding the potential terms of their
individual employment agreements or the right to participate in the equity of Clearwater or one or more of its affiliates following the consummation of the Transactions. Prior to or following the Closing of the Transactions, however, certain
executive officers may have discussions, or may enter into agreements with, Clearwater or its affiliates regarding employment with, or the right to participate in the equity of, Clearwater or one or more of its affiliates.

Accounting Treatment of the Transactions

Clearwater and Enfusion prepare their financial statements in accordance with GAAP. The Transactions will be accounted for using the
acquisition method of accounting in accordance with FASB ASC Topic 805, Business Combinations, with Clearwater considered as the accounting acquirer and Enfusion as the accounting acquiree. Accordingly, consideration to be given by Clearwater to
complete the Transactions will be allocated to the identifiable tangible and intangible assets acquired and liabilities assumed of Enfusion based on their estimated fair values as of the date of the completion of the Merger, with any excess Merger
Consideration being recorded as goodwill.

Material U.S. Federal Income Tax Consequences of the Corporate Mergers

The following general discussion sets forth the anticipated material U.S. federal income tax consequences of the Merger and, if the Second
Merger Conditions are satisfied, the Second Merger, to Enfusion Stockholders and the ownership and disposition of any Clearwater Common Stock received by U.S. Holders (as defined below) in the Merger. This discussion is based on the Code, the
Treasury Regulations, judicial authority and administrative rulings, all as of the date of this Proxy Statement/Prospectus, and all of which are subject to change, possibly with retroactive effect, and to differing interpretations. No ruling has
been or is expected to be sought from the IRS with respect to any of the