Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 428

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 428
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 number of shares of Class A common stock, par value $0.001 per share, of Parent (the “Parent Class A Common Stock”) equal to (a) if the Final Parent Stock Price (as defined in below) is less than or equal to $25.0133, 0.2159; (b) if the Final Parent Stock Price is greater than or equal to $30.5718, 0.1766; and (c) if the Final Parent Stock Price is greater than $25.0133 but less than $30.5718, the quotient obtained by dividing $5.40 by the volume-weighted average sales price per share of Parent Class A Common Stock on the New York Stock Exchange, as calculated by Bloomberg Financial LP under the function “VWAP” over the ten consecutive trading days ending on the second trading day immediately prior to the closing of the Merger as more fully set forth in the Agreement (such volume-weighted average sales price, the “Final Parent Stock Price”) (the aggregate of (x) and (y) together, the “Mixed Consideration”), (ii) a number of shares of Parent Class A Common Stock equal to the Exchange Ratio (as defined in the Agreement) (the “Stock Consideration”) or (iii) cash in an amount equal to the Aggregate Consideration Per Share (as defined in the Agreement) (the “Cash Consideration” and, taken in the aggregate with the Mixed Consideration and the Stock Consideration, the “Aggregate Consideration”), in each case subject to proration and certain other procedures and limitations contained in the Agreement, as to which procedures and limitations we express no opinion. In addition, pursuant to the Agreement, and on the terms and subject to the conditions set forth in the Agreement, at the LLC Merger Effective Time (as defined in the Agreement) Merger Sub II will be merged with and into the Operating Company and each outstanding Common Unit (as defined in the Agreement) of the Operating Company will be converted into the right to receive at the election of the holder thereof, either (i) the Mixed Consideration, (ii) the Stock Consideration or (iii) the Cash Consideration, as to which we express no opinion. Goldman Sachs & Co. LLC and its affiliates are engaged in advisory, underwriting, lending, and financing, principal investing, sales and trading, research, investment management and other financial and non-financialactivities and services for various persons and entities. Goldman Sachs & Co. LLC