Company: CWAN
Filing Date: 2025-04-21
Form Type: 8-K
Source: 0001193125-25-087277
Chunk: 6

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-04-21
Form: 8-K
Item: Item 2.01
Chunk 6
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in each case, cash in lieu of fractional shares of Clearwater Common Stock that such holder of Eligible Share would otherwise be entitled to receive.

Pursuant to the terms of the Merger Agreement: (1) the “ Per Share Parent Stock Amount” was to be determined by dividing $5.40 by the volume-weighted average price (such price, the “ Final Parent Stock Price”) of one share of Clearwater Common Stock for the ten-trading day period ending on (and including) the second to last trading day prior to (but not including) the Closing Date; providedthat (x) if the Final Parent Stock Price was less than or equal to $25.0133, then the Per Share Parent Stock Amount would be deemed to be 0.2159 and (y) if the Final Parent Stock Price was greater than or equal to $30.5718, then the Per Share Parent Stock Amount would be deemed to be 0.1766; (2) the “ Aggregate Consideration Per Share” was to be determined by dividing the Aggregate Consideration (as defined herein) by the total number of Eligible Shares; (3) the “ Aggregate Consideration” was to be determined as the sum of (i) a number of shares of Clearwater Common Stock equal to the product of (x) the Per Share Parent Stock Amount multiplied by (y) the total number of Eligible Shares multiplied by (z) the Final Parent Stock Price and (ii) the product of $5.85 multiplied by the total number of Eligible Shares; and (4) the “ Exchange Ratio” was to be determined by dividing the Aggregate Consideration Per Share by the Final Parent Stock Price.

There were 129,995,464 Eligible Shares as of the Closing Date. As the Final Parent Stock Price as of April 16, 2025, the second to last trading day prior to the Closing Date, was $23.2440, which was less than $25.0133, (w) the Per Share Parent Stock Amount was deemed to be 0.2159, (x) the Aggregate Consideration was equal to $1,412,840,049.03, (y) the Aggregate Consideration Per Share was equal to $10.87 and (z) the Exchange Ratio was 0.4676. As the Per Share Cash Consideration option was oversubscribed, such election is subject to proration pursuant to the terms of the Merger Agreement so that