Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 59

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 59
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 that may be beneficial to Enfusion (see the section titled “The Merger Agreement—Conduct of Businesses of Enfusion Prior to Completion of the                    
 Transactions” for a description of the restrictive covenants applicable to Enfusion); and                                                                                                                                                          |

| • |     | matters relating to the Transactions (including integration planning) will require substantial commitments of                                                         
 time and resources by Enfusion management, which could otherwise be devoted to day-to-day operations and other opportunities that may be beneficial to Enfusion as an 
 independent company.                                                                                                                                                  |

In addition, upon termination of the Merger Agreement, under certain circumstances, Enfusion is required to pay Clearwater a termination fee of $52,350,000, including Enfusion entering into a definitive agreement with respect to a superior proposal, an adverse recommendation change or a willful breach in a material respect of Enfusion’s non-solicitationobligations under the Merger Agreement. Finally, Enfusion could be subject to litigation related to any failure to complete the Transactions or related to any enforcement proceeding commenced against Enfusion to perform its obligations under the Merger Agreement. If the Transactions are not completed, any of these risks may materialize and may adversely affect Enfusion’s businesses, financial condition, financial results and stock price. Clearwater expects to obtain financing in connection with the Transactions and cannot guarantee that it will be able to obtain such financing on favorable terms or at all. Clearwater anticipates that the funds needed to complete the Transactions will be derived from a combination of (i) available cash on hand and (ii) third-party debt financing. Clearwater’s ability to obtain any such new debt financing will depend on, among other factors, prevailing market conditions and other factors beyond Clearwater’s control. Clearwater cannot assure you that it will be able to obtain new debt financing on terms acceptable to it or at all, and any such failure could materially adversely affect its operations and financial condition. Clearwater’s obligation to complete the Transactions is not conditioned upon the receipt of any financing. The unaudited pro forma condensed combined financial information included in this Proxy Statement/Prospectus is preliminary and the actual financial condition and results of operations after the Transactions may differ materially from them. The unaudited pro forma condensed combined financial information included in this Proxy Statement/Prospectus is presented for illustrative purposes only and is not necessarily indicative of what Clearwater’s actual financial condition or results of operations would have been had the Transactions been completed on the dates indicated. The unaudited pro forma condensed