Company: CWAN
Filing Date: 2025-04-21
Form Type: 8-K
Source: 0001193125-25-087277
Chunk: 7

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-04-21
Form: 8-K
Item: Item 2.01
Chunk 7
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 the total number of Eligible Shares entitled to receive cash consideration is equal to approximately 52% of the aggregate number of Eligible Shares and the total number of Eligible Shares entitled to receive stock consideration is equal to approximately 48% of the aggregate number of Eligible Shares. Based on the foregoing and subject to proration in accordance with the terms of the Merger Agreement,

  (1)      stockholders of Enfusion who made a valid election by 5:00 p.m. Eastern Time on April 16, 2025 (the “ Election Deadline ”) to receive the Per Share Mixed Consideration have the right to receive...  

  (2)      stockholders of Enfusion who made a valid election by the Election Deadline to receive the Per Share Stock Consideration have the right to receive 0.4676 shares of Clearwater Common Stock;  

  (3)      stockholders of Enfusion who made a valid election by the Election Deadline to receive the Per Share Cash Consideration have the right to receive $10.87 for each Eligible Share in accordance wi...  

  (4)      stockholders of Enfusion who did not make a valid election or did not deliver a valid election form prior to the Election Deadline have the right to receive 0.4676 shares of Clearwater Common S...  

provided that, stockholders of Enfusion will receive cash in lieu of any fractional shares of Clearwater Common Stock that such holder would otherwise be entitled to receive for an Eligible Share.

Also at the Effective Time, outstanding Enfusion equity-based awards under the Enfusion, Inc. 2021 Stock Option and Incentive Plan (the “ Enfusion Stock Plan”) were treated as follows.

Treatment of Stock Options

Each option to purchase shares of Enfusion Common Stock (“ Enfusion Stock Option”) granted under the Enfusion Stock Plan, with a per share exercise price that was less than the Per Share Cash Consideration (an “In-the-Money Enfusion Option”), whether vested or unvested, that was outstanding and unexercised was 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 exercise price of such In-the-Money Enfusion Option, less applicable tax withholding. Each Enfusion