Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 61

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 61
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Even if Enfusion and Clearwater are able to negotiate waivers, the counterparties may require a fee for such waivers or seek to renegotiate the agreements on terms less favorable to Enfusion or Clearwater.

Lawsuits may be filed in the future against Enfusion, its directors, Clearwater, Acquirer, Merger Sub and/or Merger Sub II challenging the Transactions or any one of them, and an adverse ruling in any such lawsuit may prevent completing the Transactions or completing the Transactions within the expected timeframe and/or result in substantial costs to Clearwater and Enfusion.

In connection with the Transactions, litigation may be filed against Enfusion and its board of directors. Among other remedies, the plaintiffs
in these lawsuits may seek damages or to enjoin the Transactions. The outcome of any litigation is uncertain and any such lawsuits could prevent or delay the completion of the Transactions and result in substantial costs to Clearwater and Enfusion.
Any such actions may create uncertainty relating to the Transactions and may be costly and distracting to management. Further, the defense or settlement of any lawsuit or claim that remains unresolved at the time the Transactions are completed may
adversely affect Clearwater’s business, financial condition and results of operations.

It is possible that litigation against
Enfusion, its directors, Clearwater, Acquirer, Merger Sub and/or Merger Sub II may be filed in the future as securities class action lawsuits and derivative lawsuits are often brought against public companies that have entered into acquisition,
merger or other business combination agreements like the Merger Agreement. Even if such a lawsuit is without merit, defending against these claims can result in substantial costs and divert management time and resources. An adverse judgment could
result in monetary damages, which could have a negative impact on Clearwater’s and Enfusion’s respective liquidity and financial condition.

Further, one of the conditions to the completion of the Transactions is that no injunction or law by any governmental entity of competent
jurisdiction will be in effect that has the effect of restraining, enjoining or otherwise prohibiting the consummation of the Transactions. As such, if an injunction prohibiting the consummation of the Transactions is obtained, that injunction may
prevent the Transactions from becoming effective or from becoming effective within the expected timeframe.

Risks Relating to Clearwater Following Completion of the Transactions

The market price for Clearwater Common Stock following the Effective Time may be affected by factors different from those that historically have affected or currently affect Clearwater Common Stock and Enfusion Common Stock.

Following the completion of the Transactions, Clear