Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 86

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 86
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ger Consideration.”

As noted above, the value of the stock consideration will fluctuate as the market price of Clearwater Common Stock fluctuates because the
stock consideration is payable in a fixed number of shares of Clearwater Common Stock. As a result, the value of the stock consideration that holders of Eligible Shares will receive upon completion of the Merger could be greater than, less than or
the same as the value of the stock consideration on the date of this Proxy Statement/Prospectus, at the time of the Special Meeting or on the date on which holders of Eligible Shares make their election, but in any event, will be subject to a 10%
collar around a reference price of $27.7926 per share of Clearwater Common Stock, average of the volume-weighted average price of Clearwater Common Stock for the ten-trading day periods ending on January 6, 2025 and January 7, 2025, as
agreed to among the parties to the Merger Agreement. Accordingly, Enfusion and Clearwater encourage you to obtain current stock price quotations for Clearwater Common Stock before deciding how to vote with respect to the Merger Agreement proposal.
Clearwater Common Stock and Enfusion Common Stock trade on the New York Stock Exchange, under the symbols “CWAN” and “ENFN,” respectively.

For each day from the date of the mailing of this Proxy Statement/Prospectus through the Election Deadline, the volume-weighted average price
of Clearwater Common Stock for the ten-trading day period ending on (and including) the trading day preceding the date on which Enfusion Stockholders access this information will be available by 4:30 p.m., New York City time, at
https://investors.clearwateranalytics.com and can also be obtained by contacting Innisfree at the address and telephone number listed in this Proxy Statement/Prospectus.

At the Effective Time, each Enfusion Vested RSU will be cancelled at the Effective Time in exchange for the right of the holder to receive the
Merger Consideration in respect of each share of Enfusion Common Stock subject to such Enfusion Vested RSU immediately prior to the Effective Time, less applicable tax withholding, in the form determined at the election of the holder in accordance
with the procedures described above. Each Enfusion Unvested RSU will be assumed by Clearwater and converted at the Effective Time into an Assumed RSU, subject to the same terms and conditions as applied to the Enfusion