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 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.
![Clearwater Analytics (PRNewsfoto/Clearwater Analytics, LLC) Clearwater Analytics (PRNewsfoto/Clearwater Analytics, LLC)](https://mma.prnewswire.com/media/1502063/Clearwater_Analytics_Logo.jpg)
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.
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 closing date of the public
offering, the underwriters' exercise of their 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/clearwater-analytics-announces-pricing-of-secondary-offering-of-class-a-common-stock-301767540.html
SOURCE Clearwater Analytics, LLC