Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 78

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 78
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 in accordance with the fair value hierarchy. Acquisition-related costs incurred were $3.4 million and $4.6 million during the three and six months ended June 30, 2025, respectively. There were no acquisition-related costs incurred during the three and six months ended June 30, 2024. These costs mainly consisted of professional fees and administrative costs and were expensed as incurred within "General and administrative" in our condensed consolidated statements of operations. The results of Enfusion’s operations have been included in our consolidated financial statements since the Enfusion Acquisition Date.Acquisition of Beacon Platform Inc.On April 30, 2025 (“Beacon Acquisition Date”), the Company completed its acquisition of all outstanding stock of Beacon Platform Inc. (“Beacon”), a next-generation leader for cross-asset class modeling and risk analytics for derivatives, private credit and debt, structured products and other alternative assets. The following table illustrates the computation of the estimated preliminary fair value of consideration transferred.  Fair ValueCash (1)$351,355 Fair value of Clearwater Common Stock issued (2)175,585 Fair value of Clearwater Common Stock to be issued (2)3,122 Fair value of converted Beacon equity awards attributable to pre-combination service (3)1,911 Total Merger Consideration 531,973 Less: cash acquired44,208 Total Merger Consideration, net of cash acquired$487,765 (1) Represents the cash consideration paid and to be paid, calculated based on $7.86 per share. (2) Represents fair value of 7,858,675 shares of Clearwater common stock, calculated using the per share price of Clearwater common stock as of April 30, 2025 of $22.74. Of the total, 7,721,401 shares of Clearwater common stock were issued as of June 30, 2025 and the remaining 137,274 shares of Clearwater common stock are expected to be paid within 12 months.  (3) Represents the fair value of Beacon options attributable to pre-combination services. Each outstanding and unvested Beacon option assumed by Clearwater was converted into a number of Clearwater RSUs. 0.2 million Clearwater RSUs with a fair value of $5.5 million were issued, with $1.9 million attributable to pre-combination services. The fair value of Beacon equity awards after their conversion into Clearwater equity awards attributable to