Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 2

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 2
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 of Enfusion outstanding as of immediately prior the effective time                                                                                                                                            
 of the Merger (except as otherwise provided in the Merger Agreement) will be converted into the right, at the election of the holder of such share pursuant to the procedures set forth in the Merger Agreement, to receive either (i) the Per Share 
 Mixed Consideration, (ii) the Per Share Stock Consideration or (iii) the Per Share Cash Consideration (each as defined in the Merger Agreement); and                                                                                                 |

| ii. | each common unit of Enfusion Operating Company outstanding as of immediately prior to the effective time of the                                                                                                                                  
 LLC Merger (except as otherwise provided in the Merger Agreement) will be converted into the right, at the election of the holder of such unit pursuant to the procedures set forth in the Merger Agreement, to receive either (i) the Per Share 
 Mixed Consideration, (ii) the Per Share Stock Consideration or (iii) the Per Share Cash Consideration (each as defined in the Merger Agreement).                                                                                                 |

Conditions to the Mergers The completion of the Mergers is subject to the satisfaction or waiver of certain customary mutual closing conditions, including (a) the adoption of the Merger Agreement by the holders of a majority of the voting power of the outstanding shares of capital stock of Enfusion entitled to vote thereon, voting as a single class (the “Stockholder Approval”), (b) the absence of any order or other action that is in effect (whether temporary, preliminary or permanent) by a governmental authority restraining, enjoining or otherwise prohibiting the consummation of the Mergers or applicable law that is in effect that makes consummation of the Mergers illegal or otherwise prohibited, (c) the expiration or termination of the applicable waiting period (and any extension thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and any agreement with any governmental authority not to consummate the Mergers and (d) the effectiveness of the registration statement on Form S-4to be filed by the Company in connection with the Mergers. The obligation of each party to consummate the Mergers is also conditioned on the other party’s representations and warranties being true and correct (subject to certain customary materiality exceptions) and the other party having performed in all material respects its obligations under the Merger Agreement. In addition, (i) the Company, Acquirer, Merger Sub and Merger