BOISE, Idaho — March 8, 2023 — Clearwater Analytics Holdings, Inc. (“Clearwater Analytics” or the “Company”) (NYSE: CWAN), a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, today announced that it has launched an underwritten secondary public offering of an aggregate of 13,000,000 shares of the Company’s Class A common stock. The Company is conducting a resale of Class A common stock on behalf of certain affiliates of Welsh, Carson, Anderson & Stowe (collectively, the “Selling Stockholders”). The Selling Stockholders also intend to grant the underwriters a 30-day option to purchase up to an additional 1,950,000 shares of Class A common stock at the public offering price, less underwriting discounts and commissions. The Company will not receive any proceeds from the sale of the Company’s Class A common stock by the Selling Stockholders. The Company’s Class A common stock is listed on the New York Stock Exchange under the ticker symbol “CWAN.”
J.P. Morgan is acting as representative of the underwriters for the potential offering.
The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The shares of Class A common stock in this offering are being offered pursuant to an automatically effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”) on March 8, 2023. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the proposed offering will be filed with the SEC and may be obtained from: 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 by accessing the SEC’s website at www.sec.gov.
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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such 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.