Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 43

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 43
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 should review the section titled “The Transactions—Material U.S. Federal Income Tax Consequences of the Corporate Mergers” carefully, which describes the
anticipated material U.S. federal income tax consequences (including U.S. federal withholding tax consequences) of the Corporate Mergers to certain Enfusion Stockholders.

The U.S. federal income tax consequences of the LLC Merger are not addressed herein, and each member of Enfusion OpCo should consult with its
own tax advisor regarding the consequences thereof.

Accounting Treatment of the Transactions(see page 102)

Clearwater and Enfusion prepare their financial statements in accordance with Generally Accepted 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 109)

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. On February 24, 2025, the waiting period under the HSR Act expired,
satisfying the Regulatory Approval (as defined below) condition to the Closing of the Transactions.

Closing and Effective Time(see page 116)

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

22

titled “The Merger Agreement—Efforts to Obtain Regulatory Approvals” and “The Merger Agreement