Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 37

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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16,165 16,034 Accrued vendor liabilities9,136 9,725 Accrued benefits and retirement17,889 15,478 Acquisition holdback liability3,122 — Accrued commissions3,476 3,204 Income tax payable643 403 Tax distributions payable to Continuing Equity Owners13 23 Other current liabilities17,190 10,237 Accrued expenses and other liabilities$79,238 $55,654 Other Long-term LiabilitiesOther long-term liabilities consisted of the following (in thousands):June 30,December 31,20252024Deferred tax liabilities$1,182 $1,310 Asset retirement obligation270 160 Accrued benefits741 — Other long-term liabilities$2,193 $1,470 

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Note 8. Credit Agreement

2025 Credit AgreementIn connection with the closing of the acquisition of Enfusion, certain subsidiaries of the Company entered into a credit agreement, dated as of April 21, 2025 (the “2025 Credit Agreement”), by and among CWAN Acquisition, LLC, a Delaware limited liability company (“Holdings”), Clearwater Analytics, LLC, a Delaware limited liability company (the “Borrower”), the lenders party thereto from time to time (the “Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent. Pursuant to the 2025 Credit Agreement, the Lenders have provided to the Borrower initial term loans, with a tenure of 7 years, in an aggregate principal amount equal to $800 million (the “2025 Term Loans”) and revolving commitments in an aggregate principal amount of $200 million with a tenure of 5 years, which includes a $20 million letter of credit and $20 million of swingline loans (the “2025 Revolving Facility”). Debt issuance costs totaled $25.5 million, primarily comprising of underwriting and administrative fees and credit rating agency costs and are amortized to interest expense using the effective interest method over the contractual terms.On April 21, 2025, we received cash proceeds of $800 million and $150 million from the initial term loans and revolving commitments, respectively, and repaid $51 million of revolving commitments in the six months ended June 30, 2025. Cash proceeds and repayments related to the credit agreement were classified as financing activities in our condensed consolidated