Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 240

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 240
---
 pre-combination services and is accordingly included in the purchase consideration and the balance amount aggregating to $24.2 million will be reflected as post-combination expense over the remaining vesting 
 period. Out of the $24.2 million, $11.4 million was recognized in the year ended December 31, 2024, and $12.8 million will be recognized in subsequent periods.                                                                                                                                                                                                                                                                              |

| The following table reflects the elimination of Enfusion’s historical stock-based compensation expense,                                                                                     
 and the recognition of stock-based compensation expense based on the fair value of Clearwater RSUs. Stock-based compensation expense is allocated among COR, R&D, S&M, and G&A, as follows: |

|                                                                    |     | For the Year ended December 31, 2024 |        |   |     |     |        |   |     |     |        |   |     |     |         |   |
|:-------------------------------------------------------------------|:----|:-------------------------------------|-------:|:--|:----|:----|-------:|:--|:----|:----|-------:|:--|:----|:----|--------:|:--|
| (in thousands)                                                     |     | COR                                  |        |   |     | R&D |        |   |     | S&M |        |   |     | G&A |         |   |
| Reversal of Enfusion’s historical stock-based compensation expense |     |                                      | (1,781 | ) |     |     | (3,925 | ) |     |     | (1,246 | ) |     |     | (12,081 | ) |
| Post-combination stock-based compensation expense                  |     |                                      |    891 |   |     |     |  2,699 |   |     |     |    754 |   |     |     |   7,074 |   |
| Change in stock-based compensation expense                         |     |                                      |   (890 | ) |     |     | (1,226 | ) |     |     |   (492 | ) |     |     |  (5,007 | ) |

Note 7 Financing Adjustments

| a. | Debt Obligations |

Debt obligations have been adjusted for the following:

| (in thousands)                               |     | Current 
 Portion |        |   |     | Long Term |         |   |
| Repayment of