Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 92

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 92
---
 or Mr. Movchan,
regarding rollover, participating in any buyer group or the treatment otherwise of their equity interests in Enfusion in a potential transaction, or the treatment of the TRA in a potential transaction.

On August 30, 2024, the Special Committee held a meeting with representatives of Dechert in attendance. By invitation of the Special
Committee, the other members of the Enfusion Board, certain members of Enfusion management and representatives of Goodwin were also in attendance. The Special Committee reviewed a long-range plan and projections for Enfusion that had been prepared
by Enfusion management at the request of the Enfusion Board at the August 8, 2024 board meeting and determined that it would continue to review the long-range plan and projections, but that the long-range plan and projections could be provided
to the investment banks that the Special Committee would interview as potential financial advisors to it in connection with a strategic alternatives review process. After the other members of the Enfusion Board, members of Enfusion management and
representatives of Goodwin exited the meeting, the Special Committee continued the meeting with representatives of Dechert, during which they reviewed considerations for selecting a financial advisor.

On September 1, 2024 and September 2, 2024, representatives of Dechert conducted interviews of each of the then-current
members of the Special Committee to assess each director’s independence to continue to serve on the Special Committee.

On
September 2, 2024, the Special Committee formally engaged Dechert as the Special Committee’s independent legal advisor. Representatives of Dechert confirmed their view that Dechert had no disabling conflicts of interest and that any
relationships with related parties would not affect the ability of Dechert to fulfill its responsibilities as the Special Committee’s legal counsel.

On September 4, 2024 and September 6, 2024, the Special Committee, with representatives of Dechert in attendance,
interviewed representatives of four investment banks, including Goldman Sachs, to consider their qualifications for a possible engagement to serve as financial advisor to the Special Committee in connection with a strategic alternatives review
process. Among other things, each bank presented its qualifications, independence, overall expertise and reputation in the investment banking industry, recommendations on approach for a special committee engagement, understanding of Enfusion’s
business and TRA, and experience with strategic alternatives review processes and proposed approach to such a process. The three investment banks other than Goldman Sachs provided relationship disclosures for the Special Committee