BOISE, Idaho, June 10, 2024 /PRNewswire/ -- Clearwater
Analytics Holdings, Inc. ("Clearwater" or the "Company") (NYSE: CWAN), a
leading worldwide provider of SaaS-based investment management,
accounting, reporting, and analytics solutions, today announced
that it has launched an underwritten secondary public offering of
an aggregate of 12,000,000 shares of the Company's Class A common
stock, par value $0.001 per share
(the "Common Stock"). The Company is conducting a resale of Common
Stock on behalf of certain affiliates of each of Warburg Pincus LLC
and Permira Advisers LLC (collectively, the "Selling
Stockholders"). The Company will not receive any proceeds from the
sale of the Common Stock by the Selling Stockholders. The
underwriter will offer the shares from time to time for sale in
negotiated transactions or otherwise, at market prices prevailing
at the time of sale, at prices related to such prevailing market
prices or at negotiated prices. The Common Stock is listed on the
New York Stock Exchange under the ticker symbol "CWAN."
Citigroup is acting as the underwriter and sole
book-running manager for the proposed offering.
Shares of the Common Stock are being offered in
this proposed offering pursuant to an automatically effective shelf
registration statement on Form S-3 filed with the United States
Securities and Exchange Commission (the "SEC") on March 8, 2023. A prospectus relating to and
describing the terms of the proposed offering will be filed with
the SEC and may be obtained from: Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at
800-831-9146; 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.
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
$7.3 trillion in assets spanning
traditional and alternative asset types.
Forward-Looking Statements
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 terms of the proposed public
offering, 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," "aim," "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 the
Company's 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
include, but are not limited to, those discussed under "Risk
Factors" in the Company's Annual Report on Form 10-K for the year
ended December 31, 2023 filed with
the SEC on February 29, 2024, the
Company's Quarterly Report on Form 10-Q for the quarterly period
ended March 31, 2024 filed with the
SEC on May 2, 2024 and in other
periodic reports filed by the Company with the SEC. These filings
are available at www.sec.gov and on the Company's 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
the Company's expectations or beliefs as of any date subsequent to
the time they are made. The Company 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
the Company.
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SOURCE Clearwater Analytics Holdings, Inc.