Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 171

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 171
---
 transaction notifiable under the HSR Act
may not be completed until the expiration of a 30-calendar-day waiting period following the parties’ filings of their respective HSR Act notification forms or the
early termination of that waiting period. The parties may also choose to voluntarily re-start the initial 30-calendar-day waiting
period by following certain prescribed procedures. After the expiration of the initial waiting period (or the re-started initial waiting period), the Antitrust Division of the DOJ or the FTC may issue a
Request for Additional Information and Documentary Material (referred to as a second request). If a second

108

request is issued, the parties may not complete the Transactions until they substantially comply with the second request and observe a second 30-calendar-daywaiting period, unless the waiting period is terminated earlier, or the parties commit not to close for some additional period of time. Enfusion and Clearwater submitted the requisite notification and report forms under the HSR Act on January 24, 2025. Exchange of Shares; Elections as to Form of Consideration At the Effective Time and the LLC Merger Effective Time, each Eligible Share (other than Eligible Shares (i) owned or held in the treasury of Enfusion or Enfusion OpCo, (ii) owned by a Dissenting Holder and (iii) owned by the Buyer Parties, Enfusion, Enfusion US 1, Inc., Enfusion US 2, Inc., Enfusion US 3, Inc. or any other subsidiary of Enfusion) will be converted into the right to receive, at the election of the holder of such Eligible Share and subject to the allocation procedures set forth in the Merger Agreement, the Merger Consideration. No fractional shares of Clearwater Common Stock will be issued, and Enfusion Stockholders will instead receive cash in lieu of fractional shares of Clearwater Common Stock. The total number of Eligible Shares to be entitled to receive the cash consideration will be equal to approximately 52% of the aggregate number of Eligible Shares, and the total number of Eligible Shares to be entitled to receive the stock consideration will be equal to approximately 48% of the aggregate number of Eligible Shares. Accordingly, depending on the elections made by other holders of Eligible Shares, you may receive a portion of the Merger Consideration in the form you did not elect. For example, if you elect to receive solely the cash consideration or solely the stock consideration, and all other holders of Eligible Shares make the same election, the consideration