# EDGAR Filing Document

**Accession Number:** 0001866368
**File Stem:** 0001193125-23-068402
**Filing Date:** 2023-3
**Character Count:** 13985
**Document Hash:** 919a103ad5aefa032ad54350d3298e78
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-068402.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001193125-23-068402

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230313

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Clearwater Analytics Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001866368
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23725587

**BUSINESS ADDRESS:**
- **STREET 1:** 777 W. MAIN STREET, SUITE 900
- **CITY:** BOISE
- **STATE:** ID
- **ZIP:** 83702
- **BUSINESS PHONE:** 208-918-2400

**MAIL ADDRESS:**
- **STREET 1:** 777 W. MAIN STREET, SUITE 900
- **CITY:** BOISE
- **STATE:** ID
- **ZIP:** 83702

?xml version="1.0" encoding="utf-8" ? Form 8-K

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

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### FORM 8-K

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#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): March 13, 2023

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## Clearwater Analytics Holdings, Inc.

#### (Exact name of Registrant as Specified in Its Charter)

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---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40838** | **87-1043711** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **777 W. Main Street** |  |
| **Suite 900** |  |
| **Boise, Idaho** | **83702** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

#### Registrant's Telephone Number, Including Area Code: 208 433-1200

#### Not Applicable

#### (Former Name or Former Address, if Changed Since Last Report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

#### Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol(s)** | **Name of each exchange**<br> **on which registered** |
| Class A common stock, par value $0.001 per share | CWAN | New York Stock Exchange LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 7.01.** | **Regulation FD Disclosure**  |

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Clearwater Analytics Holdings, Inc. (the "Company") is aware that Silicon Valley Bank ("SVB") has been placed into receivership by U.S. banking regulators. The Company does not hold any deposits at SVB or have any other direct investments at SVB and we do not expect the SVB closure to have any effect on our liquidity or treasury operations.

An affiliate of SVB is a client of the Company that represented less than 1.5% of annualized recurring revenue ("ARR") of the Company as of December 31, 2022. The client was current in its payments; therefore, the client's receivable balance is de minimis. Our services to the entity entailed providing reports to the entity's end-clients of their investments held at a third-party custodian. We do not have an indication that this entity is also in receivership, and so the entity may continue as a client. Moreover, if the entity ceases to be a client, end-clients of the entity may continue to use our services directly or via another asset manager.

Based on the foregoing, the Company does not believe it has any material exposure to the SVB receivership.

The information in this current report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as expressly provided by specific reference in such a filing.

#### Use of Forward-Looking Statements
This current report on Form 8-K contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include information concerning the Company's possible or assumed future results of operations, business strategies, technology developments, financing and investment plans, dividend policy, competitive position, industry, economic and regulatory environment, potential growth opportunities and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," "would" or similar expressions and the negatives of those terms, but are not the exclusive means of identifying such statements.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors, many of which are beyond Clearwater Analytics' control, that may cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties may cause actual results to differ materially from Clearwater Analytics' current expectations and include, but are not limited to, risks related to exposure to affiliates of SVB, uncertainty with respect to the liquidity and solvency of other financial institutions, and counterparty risk with other companies with which the Company does business, including the Company's customers and financing sources, as well as other risks and uncertainties detailed in Clearwater Analytics' periodic public filings with the SEC, including but not limited to those discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed on March 3, 2023, and in other periodic reports filed by Clearwater Analytics with the SEC. These filings are available at <u>www.sec.gov</u> and on Clearwater Analytics' website.

Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent management's beliefs and assumptions only as of the date of this press release and should not be relied upon as representing Clearwater Analytics' expectations or beliefs as of any date subsequent to the time they are made. Clearwater Analytics does not undertake to and specifically declines any obligation to update any forward-looking statements that may be made from time to time by or on behalf of Clearwater Analytics.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.**  |

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(d): The following exhibits are being filed herewith:

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| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| 99.1 | [Press release entitled "Clearwater Analytics Update" dated March 13, 2023](d278121dex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  |  | Clearwater Analytics Holdings, Inc. |
| Date: March 13, 2023 | By: | /s/ Jim Cox |
|  |  | Jim Cox, Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1** 

**Clearwater Analytics Update**

**Silicon Valley Bank Receivership Has Non-Material Impact**

BOISE, Idaho — March 13, 2023 — Clearwater Analytics Holdings, Inc. ("Clearwater Analytics" or the "Company") (NYSE: CWAN), a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, is aware that Silicon Valley Bank ("SVB") has been placed into receivership by U.S. banking regulators. The Company does not hold any deposits at SVB or have any other direct investments at SVB and we do not expect the SVB closure to have any effect on our liquidity or treasury operations.

An affiliate of SVB is a client of the Company that represented less than 1.5% of annualized recurring revenue ("ARR") of the Company as of December 31, 2022. The client was current in its payments; therefore, the client's receivable balance is de minimis. Our services to the entity entailed providing reports to the entity's end-clients of their investments held at a third-party custodian. We do not have an indication that this entity is also in receivership, and so the entity may continue as a client. Moreover, if the entity ceases to be a client, end-clients of the entity may continue to use our services directly or via another asset manager.

Based on the foregoing, the Company does not believe it has any material exposure to SVB receivership.

<u>Use of Forward-Looking Statements</u>

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include information concerning the Company's possible or assumed future results of operations, business strategies, technology developments, financing and investment plans, dividend policy, competitive position, industry, economic and regulatory environment, potential growth opportunities and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," "would" or similar expressions and the negatives of those terms, but are not the exclusive means of identifying such statements.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors, many of which are beyond Clearwater Analytics' control, that may cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties may cause actual results to differ materially from Clearwater Analytics' current expectations and include, but are not limited to, risks related to exposure to affiliates of SVB, uncertainty with respect to the liquidity and solvency of other financial institutions, and counterparty risk with other companies with which the Company does business, including the Company's customers and financing sources, as well as other risks and uncertainties detailed in

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Clearwater Analytics' periodic public filings with the SEC, including but not limited to those discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed on March 3, 2023, and in other periodic reports filed by Clearwater Analytics with the SEC. These filings are available at <u>www.sec.gov</u> and on Clearwater Analytics' website.

Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent management's beliefs and assumptions only as of the date of this press release and should not be relied upon as representing Clearwater Analytics' expectations or beliefs as of any date subsequent to the time they are made. Clearwater Analytics does not undertake to and specifically declines any obligation to update any forward-looking statements that may be made from time to time by or on behalf of Clearwater Analytics.

About Clearwater Analytics

Clearwater Analytics (NYSE: CWAN), a global, industry-leading SaaS solution, automates the entire investment lifecycle. With a single instance, multi-tenant architecture, Clearwater offers award-winning investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. Each day, leading insurers, asset managers, corporations, and governments use Clearwater's trusted data to drive efficient, scalable investing on more than $6.4 trillion in assets spanning traditional and alternative asset types.

**Investor Contact:**

**Joon Park** \| +1 415-906-9242 \| <u>investors@clearwaternanalytics.com</u>

**Media Contact:**

**Claudia Cahill** \| +1 703-728-1221 \| <u>press@clearwateranalytics.com</u>