Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 54

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 54
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holder receives may differ from the
type of consideration selected and such difference may be significant. This may result in, among other things, tax consequences that differ from those that would have resulted if the Enfusion Securityholder had received solely the form of
consideration elected. A discussion of the proration mechanism can be found under the section titled “The Transactions—Merger Consideration” and a discussion of the material U.S. federal income tax consequences of the Transactions can
be found under the section titled “The Transactions—Material U.S. Federal Income Tax Consequences of the Corporate Mergers.”

Completion of the Transactions is subject to the conditions contained in the Merger Agreement and if these conditions are not satisfied or waived, the Transactions will not be completed.

The obligations of Clearwater and Enfusion to complete the Transactions are subject to the
satisfaction or waiver of a number of conditions, including, among others, the adoption of the Merger Agreement by Enfusion Stockholders by the affirmative vote of at least a majority of the outstanding shares of Enfusion Common Stock and Enfusion
Class B Common Stock, the expiration or termination of the waiting period under the HSR Act. On February 24, 2025, the waiting period under the HSR Act expired, satisfying the Regulatory Approval condition to Closing of the Transactions.
For a more complete summary of the required regulatory approvals and the conditions to Closing, see the sections titled “The Transactions—Regulatory Clearances and Approvals” and “The Merger Agreement—Conditions to the
Transactions.”

Although Clearwater and Enfusion have agreed in the Merger Agreement to use their reasonable best efforts to complete
the Transactions as promptly as practicable, many of the conditions to Closing are not within Clearwater’s or Enfusion’s control, and neither company can predict when or if these conditions will be satisfied. If any of these conditions are
not satisfied or waived prior to July 9, 2025, it is possible that the Merger Agreement will be terminated. The failure to satisfy all of the required conditions could delay the completion of the Transactions for a significant period of time or
prevent it from occurring. Any delay in completing the Transactions could cause Clearwater not to realize some or all of the benefits that it expects to achieve if the Transactions are successfully completed within their expected timeframe. There
can be no assurance that the conditions to Closing will be satisfied or waived or that the Transactions will be completed. See the risk factor titled “—Failure to complete the Transactions could negatively affect the