Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 40

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 40
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 Per Share Cash Consideration may receive Per Share Mixed Consideration, for example. U.S. Holders are encouraged to consult their own tax advisors regarding the tax
consequences of receiving any particular mix of Clearwater Common Stock and cash Merger Consideration, regardless of their elections, as a result.

In certain circumstances, an Enfusion Stockholder could be treated as receiving a dividend in an amount up to the cash Merger Consideration
(including any cash in lieu of a fractional share of Clearwater Common Stock) received by such Enfusion Stockholder. As a result, a Non-U.S. Holder may be subject to U.S. federal withholding tax at a rate of
30% (or such lower rate as may be specified by an applicable income tax treaty) with respect to the cash Merger Consideration received by such Enfusion Stockholder.

Neither Clearwater nor Enfusion or any of their respective advisors or affiliates provides any assurances in the Merger Agreement regarding
the tax consequences of the Corporate Mergers, including whether the Corporate Mergers will qualify as a “reorganization” under Section 368(a) of the Code. Neither Clearwater nor Enfusion has requested or intends to request any ruling
from the IRS. Each Enfusion Stockholder that is a U.S. Holder should consult its own tax advisor with respect to the particular tax consequences of the Corporate Mergers to such holder, including the consequences of receiving any particular mix of
Clearwater Common Stock and cash Merger Consideration. Each Enfusion Stockholder should review the section titled “The Transactions—Material U.S. Federal Income Tax Consequences of the Corporate Mergers” carefully, which describes the
anticipated material U.S. federal income tax consequences (including U.S. federal withholding tax consequences) of the Corporate Mergers to certain Enfusion Stockholders.

The U.S. federal income tax consequences of the LLC Merger are not addressed herein, and each member of Enfusion OpCo should consult with its
own tax advisor regarding the consequences thereof.

Accounting Treatment of the Transactions(see page 102)

Clearwater and Enfusion prepare their financial statements in accordance with Generally Accepted Accounting Principles in the United States of
America (“”). The Transactions will be accounted for using the acquisition method of accounting in accordance with FASB ASC Topic 805, Business Combinations, with Clearwater considered as the accounting acquirer and Enfusion as
the accounting acquiree. Accordingly, consideration to be given by Clearwater to complete the Transactions will be