Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 51

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 51
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 | Implied Value per 
 Share of Enfusion 
 Common Stock      |       |
|:-----------------|:----|:-------------|------:|:----|:------------------|--------:|:----|:-------------|-----:|:----|:------------------|------:|
| January 10, 2025 |     | $            | 27.03 |     | $                 | 27.4360 |     | $            | 9.94 |     | $                 | 11.25 |
| , 2025           |     | $            |       |     | $                 |         |     |              |      |     |                   |       |

The market prices of Clearwater Common Stock and Enfusion Common Stock have fluctuated since the date of the announcement of the execution of the Merger Agreement and will continue to fluctuate prior to the completion of the Transactions and, in the case of Clearwater Common Stock, thereafter. No assurance can be given concerning the market prices of Clearwater Common Stock or Enfusion Common Stock before completion of the Transactions or of Clearwater Common Stock after completion of the Transactions. Accordingly, these comparisons may not provide meaningful information to stockholders in determining how to vote with respect to the proposals described in this Proxy Statement/Prospectus. We urge you to obtain current market quotations for Clearwater Common Stock and Enfusion Common Stock and to review carefully the other information contained in this Proxy Statement/Prospectus. Please see the section titled “Risk Factors—Risks Relating to the Transactions—Because the market price of Clearwater Common Stock has fluctuated and will continue to fluctuate, Enfusion Stockholders cannot be sure of the value of the consideration they will receive.” For each day from the date of the mailing of this Proxy Statement/Prospectus through the Election Deadline, the volume-weighted average price of Clearwater Common Stock for the ten-trading day period ending on (and including) the trading day preceding the date on which Enfusion Stockholders access this information will be available by 4:30 p.m., New York City time, at https://www.investors.clearwateranalytics.com and can also be obtained by contacting Innisfree at the address and telephone number listed in this Proxy Statement/Prospectus. Dividends Since its initial public offering in September 2021, Clearwater has not declared or paid regular cash dividends on its common stock. Since its initial public offering in October 2021, Enfusion has