Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 56

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 56
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 regulatory considerations and other risk factors set forth or incorporated by reference in this Proxy Statement/Prospectus. Many of these factors are beyond Clearwater’s and Enfusion’s control.
Enfusion Stockholders are urged to obtain current market quotations for Clearwater Common Stock and Enfusion Common Stock when they make their elections.

31

Enfusion Securityholders may not receive all consideration in the form they elect, and the form of consideration that they receive may have a lower value or different tax consequences than the form of consideration that they elect to receive.

Enfusion Securityholders’ consideration will be subject to proration, such that the total amount of cash consideration will be equal to
52% of the aggregate Merger Consideration and the total amount of stock consideration will be equal to 48% of the aggregate Merger Consideration. Accordingly, some of the Merger Consideration an Enfusion Securityholder receives may differ from the
type of consideration selected and such difference may be significant. This may result in, among other things, tax consequences that differ from those that would have resulted if the Enfusion Securityholder had received solely the form of
consideration elected. A discussion of the proration mechanism can be found under the section titled “The Transactions—Merger Consideration” and a discussion of the material U.S. federal income tax consequences of the Transactions can
be found under the section titled “The Transactions—Material U.S. Federal Income Tax Consequences of the Corporate Mergers.”

Completion of the Transactions is subject to the conditions contained in the Merger Agreement and if these conditions are not satisfied or waived, the Transactions will not be completed.

The obligations of Clearwater and Enfusion to complete the Transactions are subject to the
satisfaction or waiver of a number of conditions, including, among others, the adoption of the Merger Agreement by Enfusion Stockholders by the affirmative vote of at least a majority of the outstanding shares of Enfusion Common Stock and Enfusion
Class B Common Stock, the expiration or termination of the waiting period under the HSR Act. On February 24, 2025, the waiting period under the HSR Act expired, satisfying the Regulatory Approval condition to Closing of the Transactions.
For a more complete summary of the required regulatory approvals and the conditions to Closing, see the sections titled “The Transactions—Regulatory Clearances and Approvals” and “The Merger Agreement—Conditions to the
Transactions.”

Although Clearwater and Enfusion have agreed in the Merger Agreement to use their reasonable best efforts to