Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 100

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 100
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 October 22, 2024, Enfusion entered into a confidentiality agreement with each of Party E, Party F and Party G, each a financial
sponsor firm. Party E and Party H (collectively, the “”) requested permission to proceed as co-bidders so they could cooperate to produce a more competitive bid, and the
Special Committee granted such permission, subject to Party H executing a separate confidentiality agreement.

On
October 23, 2024, Enfusion entered into a confidentiality agreement with each of Clearwater, and Party H, Party I, Party J and Party K, each a financial sponsor firm.

On October 25, 2024, the Special Committee held a meeting with representatives of Dechert and Goldman Sachs in attendance.
Representatives of Goldman Sachs briefed the Special Committee on the status of the strategic transaction process, including the management meetings with potential counterparties and representatives of Goldman Sachs that had occurred during the
previous week.

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Later on October 25, 2024, Enfusion entered into a confidentiality agreement with
each of Party L and Party M, each a financial sponsor firm.

Also on October 25, 2024, Party J declined to further engage in the sale
process, citing that Enfusion’s revenue retention profile would be challenging to underwrite.

On October 26, 2024,
Enfusion entered into a confidentiality agreement with Party N, a financial sponsor firm.

On October 27, 2024, Enfusion entered
into a confidentiality agreement with Party O, a financial sponsor firm.

On October 28, 2024, Party G declined to further engage in
the sale process, citing that Enfusion’s financial profile would be challenging to underwrite, and citing complications related to their ownership of a competitor company.

On October 29, 2024, at the direction of the Special Committee, representatives of Goldman Sachs asked Enfusion’s management and
Enfusion’s tax advisor, Deloitte Tax LLP, to prepare a high-level summary of the estimated early termination payment under the TRA at certain per share valuations (the “”).

On October 30, 2024, Enfusion entered into a confidentiality agreement with Party P, a strategic counterparty.

On October 31, 2024, the Enfusion Board held a regularly scheduled meeting with representatives of Enfusion management in
attendance. The Enfusion Board was provided with an update on Enfusion’s financial results for the third quarter of 2024 and financial guidance for the full