Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 47

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 47
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 competing acquisition proposal that the Enfusion Board determines to be superior to the Transactions or reasonably be expected to lead to a proposal that is superior to the
Transactions, Enfusion is permitted, subject to certain conditions set forth in the Merger

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Agreement, to engage in discussions and negotiations with the party that sent the competing acquisition proposal (and its representatives, advisors and financing sources) and to furnish non-publicinformation to that party (and its representatives, advisors and debt financing sources). Under the terms of the Merger Agreement and subject to certain conditions set forth therein (including the payment of a $52,350,000 termination fee), Enfusion may terminate the Merger Agreement prior to Enfusion Stockholders adopting the Merger Agreement at the Special Meeting to accept a competing acquisition proposal that the Enfusion Board has determined to be superior to the Transactions from a financial point of view. See “The Merger Agreement—No Solicitation of Other Offers by Enfusion” and “The Merger Agreement—Change of Recommendation.” Conditions to the Transactions(see page 140) The respective obligations of the Buyer Parties, Enfusion and Enfusion OpCo to consummate the transactions are subject to the satisfaction (or waiver where permissible pursuant to applicable law) of customary conditions, including the adoption of the Merger Agreement by the holders of a majority of the outstanding shares of Enfusion Common Stock and Enfusion Class B Common Stock (the “ Stockholder Approval”) and the expiration or termination of the waiting period under the HSR Act. See the section titled “The Merger Agreement—Conditions to the Transactions.” The obligations of the Buyer Parties to consummate the Transactions are also subject to the absence of any Enfusion Material Adverse Effect (as defined in the section titled “The Merger Agreement—Material Adverse Effect”) after the date of the Merger Agreement, the accuracy of Enfusion’s representations and warranties and compliance by Enfusion with its obligations and agreements under the Merger Agreement, as described in the section titled “The Merger Agreement—Representations and Warranties.” The Merger Agreement does not include a financing condition. Under the terms of the Merger Agreement, the closing of the transactions contemplated by the Merger Agreement (the “ Closing”) will take place on the second business day following the date on which the conditions to the Closing are satisfied. See the section titled “The Merger Agreement—Closing and Effective Time.” Termination of the Merger Agreement(see page 142) Among other customary circumstances, Clearwater or En