BOISE,
Idaho, March 8, 2023 /PRNewswire/ -- 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."
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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 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.
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.
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 underwriters' option to purchase additional shares of
Class A common stock, 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 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, 2022 filed with
the SEC on March 3, 2023, 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, LLC