Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 44

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 44
---
 Enfusion will take all actions necessary or required under the
Enfusion, Inc. 2021 Stock Purchase Plan (the “”) to provide that (a) no new offering or purchase period under the Enfusion ESPP will commence after the date of the Merger Agreement, (b) no new participants
will be permitted into the Enfusion ESPP after the date of the Merger Agreement, (c) the existing participants in the Enfusion ESPP may not increase their elections with respect to the offering or purchase periods in effect on the date of the
Merger Agreement, (d) the exercise date for any offering or purchase period in effect as of the date of the Merger Agreement will be the earlier of the original exercise date for such offering and the date that is 60 days after the date of the
Merger Agreement (the “”), (e) each participant’s accumulated contributions under the Enfusion ESPP will be used to purchase shares of Enfusion Common Stock in accordance with the terms of the Enfusion ESPP
as of the Final Exercise Date, and (f) the Enfusion ESPP will terminate on the date immediately prior to the date on which the Effective Time occurs.

Listing of Clearwater Common Stock; Delisting of Enfusion Common Stock(see page 112)

It is a condition to the completion of the Transactions that the shares of Clearwater Common Stock to be issued to Enfusion Stockholders in the
Transactions be approved for listing on New York Stock Exchange, subject to official notice of issuance. As a result of the Transactions, shares of Enfusion Common Stock will cease to be listed on the New York Stock Exchange.

Appraisal Rights of Enfusion Stockholders (see page 170)

Enfusion Stockholders who do not vote in favor of approval of the Merger Agreement Proposal, who continuously hold their shares of Enfusion
Common Stock or Enfusion Class B Common Stock through the Effective Time and who otherwise comply precisely with the applicable provisions of Section 262 of the DGCL

23

will be entitled to seek appraisal of the fair value of their shares of Enfusion Common Stock or Enfusion Class B Common Stock, as determined by the Delaware Court of Chancery, if the Merger
is completed. The “fair value” of your shares of Enfusion Common Stock or Enfusion Class B Common Stock as determined by the Delaware Court of Chancery could be greater than, the same as, or less than the value of the Merger
Consideration that you would otherwise be