Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 106

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 106
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 had requested a
meeting with Mr. Bernstein, in his capacity as a representative of FTV and as a member of the Enfusion Board, Mr. Luo, in his capacity as a representative of ICONIQ and as a member of the Enfusion Board, and the chair of the Special
Committee. The Special Committee determined to permit the meeting, subject to the parties’ adherence to guidance from the Special Committee.

On December 11, 2024, at the direction of the Special Committee, representatives of Party E participated in a meeting with
representatives of Goldman Sachs, Dechert, FTV and ICONIQ and the chair of the Special Committee. Representatives of FTV and ICONIQ discussed the history of their investment in Enfusion and their views with respect to Enfusion’s growth and
strategy. Dechert distributed guidelines to representatives of Goldman Sachs, FTV and ICONIQ in advance of the meeting that instructed representatives of FTV and ICONIQ to refrain from discussing certain matters, including potential rollover or
similar agreements or voting and support agreements.

Later on December 11, 2024, representatives of Goldman Sachs requested that
representatives of Clearwater provide the Special Committee with a revised proposal by no later than December 19, 2024.

On
December 12, 2024, representatives of Goldman Sachs requested that representatives of Party P provide the Special Committee with a revised proposal by no later than December 19, 2024.

On December 13, 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 engagement with bidders that had occurred during the previous week. The Special Committee authorized representatives of
Goldman Sachs to formally solicit second round proposals from each of Clearwater, the Party E Consortium, Party L and Party P. The Special Committee also discussed the timing for a negotiation of a full or partial waiver of the early termination
payments due pursuant to the TRA upon a change of control and determined that the negotiation should occur after the Special Committee had received final bids from each potential counterparty. Representatives of Dechert provided customary
supplemental relationship disclosures with respect to Enfusion, FTV, ICONIQ, Mr. Movchan, the other TRA Parties and other potential counterparties, which the Special Committee determined yielded no disabling conflicts of interest and would not
affect the ability of Dechert to fulfill its responsibilities as