Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 37

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 alternative assets. The following table illustrates the computation of the estimated preliminary fair value of consideration transferred.  Fair ValueCash (1)$351,328 Fair value of Class A common stock issued (2)178,645 Fair value of Class A common stock to be issued (2)62 Fair value of converted Beacon equity awards attributable to pre-combination service (3)1,911 Total Merger Consideration 531,946 Less: cash acquired44,208 Total Merger Consideration, net of cash acquired$487,738 (1) Represents the cash consideration paid and to be paid, calculated based on $7.86 per share. (2) Represents fair value of 7,858,675 shares of CWAN Class A common stock, calculated using the per share price of Class A common stock as of April 30, 2025 of $22.74. Of the total, 7,855,966 shares of Class A common stock were issued as of September 30, 2025 and the remaining 2,709 shares of Class A common stock are expected to be issued within the next 12 months.  (3) Represents the fair value of Beacon options attributable to pre-combination services. Each outstanding and unvested Beacon option assumed by CWAN was converted into a number of CWAN RSUs. 0.2 million CWAN RSUs with a fair value of $5.5 million were issued, with $1.9 million attributable to pre-combination services. The fair value of Beacon equity awards after their conversion into CWAN equity awards attributable to post-combination service will be recognized as expense over the post-combination service periods on a straight-line basis.We have accounted for this transaction as a business combination and allocated the fair value of the consideration to the tangible and intangible assets acquired as well as liabilities assumed, based on their estimated fair values. The excess of the purchase price over the preliminary fair values of these identifiable assets and liabilities was recorded as goodwill. The allocated preliminary fair value is summarized as follows (in thousands): Fair ValueAccounts receivable, net $16,769 Prepaid expenses and other current assets 1,460 Property, equipment and software, net 201 Operating lease right-of-use assets, net 2,597 Goodwill337,928 Intangible assets, net 166,900 Other assets 431 Accounts payable (1,272)Accru