Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 122

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 122
---
, the Mergers and the other transactions contemplated by the Merger Agreement are advisable, fair to and in the best interests of the Enfusion and Enfusion Stockholders, and (b) recommended that the Enfusion
Board adopt resolutions declaring that the Merger Agreement, the Mergers and the other transactions contemplated by the Merger Agreement are advisable, fair to and in the best interests of Enfusion and Enfusion Stockholders, adopt and approve the
Merger Agreement, the Mergers and the other transactions contemplated by the Merger Agreement, and recommend that the Enfusion Stockholders vote their shares in favor of adopting the Merger Agreement at a special meeting of the Enfusion Stockholders
(the “”).

Immediately following such Special Committee meeting on
January 10, 2025, the Enfusion Board held a meeting with representatives of Dechert, Goldman Sachs and Goodwin in attendance. Representatives of Goldman Sachs reviewed with the Enfusion Board its financial analysis of the proposed Merger
Consideration. Representatives of Dechert reviewed the final terms of the merger agreement, the voting and support agreements and the TRA amendment. Representatives of Goodwin then reviewed with the Enfusion Board its fiduciary duties under Delaware
law. Members of the Special Committee and representatives of Dechert described and conveyed the Special Committee Resolutions to the Enfusion Board. The Enfusion Board then unanimously (a) determined that the Merger Agreement, the Mergers and
the other transactions contemplated by the Merger Agreement were advisable, fair to and in the best interests of Enfusion and Enfusion Stockholders, (b) adopted and approved the Merger Agreement, the Mergers and the other transactions
contemplated by the Merger Agreement and (c) directed that the Merger Agreement be submitted to Enfusion Stockholders entitled to vote thereon for adoption thereby and resolved to recommend that Enfusion Stockholders adopt the Merger Agreement
and approve the transactions contemplated by the Merger Agreement, including the Mergers.

Later on January 10, 2025, the TRA
amendment, the merger agreement and the voting and support agreements were executed by the relevant parties.

On
January 13, 2025, before the opening of trading on the NYSE, Enfusion and Clearwater publicly announced the merger.

Enfusion’s Reasons for the Transactions; Recommendations of the Special Committee and the Enfusion Board

Recommendations of the Special Committee

The Special Committee, pursuant to resolutions adopted at a meeting