Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 68

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 68
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 it is made, and neither Clearwater nor Enfusion
undertakes any obligation, other than as required by applicable law, to update, correct or otherwise revise the unaudited prospective financial information included in this Proxy Statement/Prospectus to reflect events or circumstances after the date
such prospective financial information was prepared or to reflect the occurrence of anticipated or unanticipated events or circumstances, even in the event that any or all of the assumptions underlying any such prospective financial information are
no longer appropriate (even in the short term).

The unaudited prospective financial information of Enfusion included in this Proxy
Statement/Prospectus has been prepared by, and is the responsibility of, the management of Enfusion. Neither Ernst & Young LLP nor any other independent accountant has compiled, reviewed, examined, performed any other assurance procedures,
or expressed any form of assurance with respect to the prospective financial information included in this Proxy Statement/Prospectus. The report of Ernst & Young LLP incorporated by reference in this Proxy Statement/Prospectus relates to
Enfusion, Inc.’s historical audited financial statements and does not extend to the unaudited

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prospective financial information and should not be read to do so. Neither Clearwater’s independent auditors, nor any other independent accountants, have compiled, examined, or performed any
procedures with respect to the prospective financial information contained herein, nor have they expressed any opinion or any other form of assurance on such information or its achievability, and assume no responsibility for, and disclaim any
association with, the prospective financial information. See the section titled “The Transactions—Certain Financial Projections Utilized by the Special Committee and the Enfusion Board” for more information.

The opinion of the Special Committee’s financial advisor will not reflect changes in circumstances between the date of such opinion and the completion of the Transactions.

At a meeting of the Special Committee held on January 10, 2025, Goldman Sachs rendered its
oral opinion to the Special Committee, subsequently confirmed by delivery of its written opinion, dated January 10, 2025, that, as of such date, and based upon and subject to the various limitations, qualifications and assumptions and other
matters set forth therein, the aggregate Merger Consideration to be paid to the holders (other than Clearwater and its affiliates) of shares of Enfusion Common Stock was fair, from a financial point of view, to such holders.

Goldman Sachs’ opinion is necessarily based on economic, monetary, market