Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 11

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 11
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EMENT AND PLAN OF MERGER (this “Agreement”), dated January 10, 2025, is entered into by and among
Enfusion, Inc., a Delaware corporation (the “Company”), Enfusion Ltd. LLC, a Delaware limited liability company (the “Operating Company”), Clearwater Analytics Holdings, Inc., a Delaware corporation
(“Parent”), Poseidon Acquirer, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of Parent (“Acquirer”), Poseidon Merger Sub I, Inc., a Delaware corporation and a wholly-owned subsidiary of Parent
(“Merger Sub”), and Poseidon Merger Sub II, LLC, a Delaware limited liability company and an indirect subsidiary of Parent (“Merger Sub II”).

WHEREAS, the Company Board has established a special committee of independent and disinterested members of the Company Board (the
“Special Committee”);

WHEREAS, the Special Committee has unanimously (i) determined that this Agreement, providing
for the merger of Merger Sub with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly-owned Subsidiary of Parent in accordance with the DGCL, the Merger and the other transactions contemplated by
this Agreement are advisable, fair to and in the best interests of the Company and the Company’s stockholders, (ii) recommended that the Company Board determine that this Agreement, the Merger and the other transactions contemplated by
this Agreement are advisable, fair to and in the best interests of the Company and the Company’s stockholders and that the Company Board adopt and approve this Agreement, the Merger and the other transactions contemplated by this Agreement,
(iii) recommended that the Company Board adopt and approve this Agreement, the Merger and the other transactions contemplated by this Agreement and (iv) recommended that, subject to approval by the Company Board, the Company Board submit
this Agreement to the Company’s stockholders entitled to vote thereon for adoption thereby and resolve to recommend that such stockholders adopt this Agreement and approve the transactions contemplated by this Agreement, including the Merger;

WHEREAS, the parties hereto intend that, subject to , the Corporate Mergers, taken together,
constitute a “reorganization” within the meaning of Section 368(a) of the Code that is subject to the Intended Tax Treatment, and that this Agreement constitutes and be adopted as a “plan of reorganization” within the
meaning of Section 368 of the Code and Treasury Regulations Section 1.368-