BOISE, Idaho — September 14, 2021 — Clearwater Analytics Holdings, Inc. (“Clearwater Analytics” or the “Company”), a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, today announced that it has launched the roadshow for the initial public offering of its Class A common stock. The Company is offering 30,000,000 shares of its Class A common stock and intends to grant the underwriters a 30-day option to purchase up to an additional 4,500,000 shares of its Class A common stock. The initial public offering price is expected to be between $14.00 and $16.00 per share. The Company intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “CWAN.”
The Company intends to use the net proceeds from this offering to purchase equity interests from its operating subsidiary and for general corporate purposes to support the growth of the business.
The operating subsidiary intends to use the net proceeds it receives from the sale of equity interests to the Company, together with the proceeds from the new term loan, to repay outstanding borrowings under its credit facility and pay any associated prepayment penalties and accrued and unpaid interest to the date of repayment. The operating subsidiary will bear or reimburse the Company for all of the expenses of the initial public offering.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as lead bookrunners and as representatives of the underwriters for the offering, with Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Oppenheimer & Co. Inc., Piper Sandler & Co. and William Blair & Company, L.L.C. acting as additional bookrunners. BNP Paribas Securities Corp., D.A. Davidson & Co., AmeriVet Securities, Inc., Loop Capital Markets LLC, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC are acting as co-managers for the offering.
The offering will be made only by means of a prospectus, which has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and is available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus relating to this offering may be obtained by contacting:
• Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: email@example.com;
• J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at firstname.lastname@example.org; or
• Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department.
A registration statement on Form S-1 relating to the offering has been filed with the SEC but has not yet become effective. The securities to be registered may not be sold nor may offers to buy be accepted prior to the time when the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.