Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 42

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 42
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 Accounting
Principles in the United States of America (“”). The Transactions will be accounted for using the acquisition method of accounting in accordance with FASB ASC Topic 805, Business Combinations, with Clearwater considered as the
accounting acquirer and Enfusion as the accounting acquiree. Accordingly, consideration to be given by Clearwater to complete the Transactions will be allocated to the identifiable tangible and intangible assets acquired and liabilities assumed of
Enfusion based on their estimated fair values as of the date of the completion of the Transactions, with any excess Merger Consideration being recorded as goodwill.

Regulatory Clearances and Approvals(see page 108)

The transactions are subject to the requirements of the HSR Act, which prevents Enfusion and Clearwater from completing the Transactions until
required information and materials are furnished to the Antitrust Division of the Department of Justice (referred to as the DOJ) and the Federal Trade Commission (referred to as the FTC) and the HSR Act waiting period is terminated or expires.
Enfusion and Clearwater submitted the requisite notification and report forms under the HSR Act on January 24, 2025.

Closing and Effective Time(see page 114)

Clearwater and Enfusion currently expect to complete the Transactions in the second quarter of 2025. Neither
Clearwater nor Enfusion, however, can predict the actual date on which the Transactions will be completed, and they cannot assure that the Transactions will be completed, because completion of the Transactions is subject to conditions beyond the
control of each of Clearwater and Enfusion. See the sections titled “The Merger Agreement—Efforts to Obtain Regulatory Approvals” and “The Merger Agreement—Conditions to the Transactions.” Also, see the section titled
“The Transactions—Regulatory Clearances and Approvals.”

Treatment of Enfusion Equity Awards and Employee Stock Purchase Plan(see
page 120)

Treatment of Stock Options

Each Enfusion Stock Option (as defined below) with a per share exercise price that is less than the Per Share Cash Consideration (an “”), whether vested or unvested, that is outstanding and unexercised will be cancelled immediately prior to the Effective Time in exchange
for the right of the holder to receive an amount in cash equal to the product of (i) the number of shares of Enfusion Common Stock subject to such In-the-Money
Enfusion Option immediately prior to the Effective Time, multiplied by (ii) the excess of the Per Share Cash Consideration over the