Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 13

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 13
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”); providedthat (x) if the Final Parent Stock Price is less than or equal to $25.0133, then the Per Share Parent Stock Amount shall be deemed to be 0.2159 and (y) if the Final Parent Stock Price is greater than or equal to $30.5718, then the Per Share Parent Stock Amount shall be deemed to be 0.1766. The “ Aggregate Consideration Per Share” will be determined by dividing the Aggregate Consideration by the total number of Eligible Shares. The “ Aggregate Consideration” will be determined as the sum of (i) a number of shares of Clearwater Common Stock equal to the product of (x) the Per Share Parent Stock Amount multiplied by (y) the total number of Eligible Shares multiplied by (z) the Final Parent Stock Price and (ii) the product of $5.85 multiplied by the total number of Eligible Shares. The “ Exchange Ratio” will be determined by dividing the Aggregate Consideration Per Share by the Final Parent Stock Price. Accordingly, if the Final Parent Stock Price were between $25.0133 and $30.5718, the implied value of the Aggregate Consideration Per Share would be $11.25; if the Final Parent Stock Price were greater than $30.5718, the implied value of the Aggregate Consideration Per Share would be greater than $11.25; and if the Final Parent Stock Price were less than $25.0133, the implied value of the Aggregate Consideration Per Share would be less than $11.25. The Final Parent Stock Price and the actual value of the Per Share Mixed Consideration, the Per Share Stock Consideration and the Per Share Cash Consideration will depend on the trading price of Clearwater Common Stock, which is subject to fluctuation, including during the period until the Closing Date. See “Summary—Merger Consideration” for a table illustrating the impact of changes in the Final Parent Stock Price on the Per Share Parent Stock Amount to be received as part of the Per Share Mixed Consideration, the Per Share Stock Consideration, the Per Share Cash Consideration and the implied value per share of Enfusion Common Stock over a range of assumed Final Parent Stock Prices. For each day from the date of the mailing of this Proxy Statement/Prospectus through the Election Deadline (as defined below), the volume-weighted average price of Clearwater Common Stock for the ten-trading day period ending on (and including) the trading day preceding the date