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 the pricing of its underwritten secondary public offering of its Class A common stock priced at a price to the public of $15.00 per share. The offering consists of 13,000,000 shares of Class A common stock to be sold by certain affiliates of Welsh, Carson, Anderson & Stowe (collectively, the “Selling Stockholders”). The Company will not receive any proceeds from the sale of the Company’s Class A common stock by the Selling Stockholders. The Selling Stockholders also granted 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’s Class A common stock is listed on the New York Stock Exchange under the ticker symbol “CWAN.” The offering is expected to close on March 13, 2023, subject to customary closing conditions.
J.P. Morgan is acting as lead bookrunner and representative of the underwriters for the offering, with Morgan Stanley, Goldman Sachs & Co. LLC, RBC Capital Markets, SVB Securities, Wells Fargo Securities, Credit Suisse, William Blair, Oppenheimer & Co. and Piper Sandler acting as additional bookrunners for the offering. D.A. Davidson & Co., Loop Capital Markets, AmeriVet Securities, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank are acting as comanagers for 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 offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. The final prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and may be obtained, when available, 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 prospectus-eq_fi@jpmchase.com; 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.
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