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Clearwater Analytics expands secondary public offering to 20 million shares

EditorAmbhini Aishwarya
Published 2023-11-07, 01:44 a/m
© Reuters.
CWAN
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Clearwater Analytics Holdings, Inc. (NYSE:CWAN), a leading provider of SaaS-based investment management solutions, has disclosed the pricing details for its underwritten secondary public offering of Class A common stock on Monday. The company has expanded the offering from the initial 17 million shares to 20 million shares. The shares are to be sold by affiliates of Welsh, Carson, Anderson & Stowe, Warburg Pincus LLC and Permira Advisers LLC. Clearwater will not be receiving any proceeds from this sale.

J.P. Morgan is the designated underwriter and sole book-running manager for the offering, which is projected to close by Thursday, November 9, 2023. This follows Clearwater's Form S-3 filing with the SEC on March 8, 2023. Interested parties can procure the prospectus from Broadridge Financial Solutions (NYSE:BR) or the SEC's website in compliance with the Securities Act of 1933.

Clearwater had initially announced a secondary public offering of 17 million Class A common stock shares ($0.001 each) on NYSE. The sale was outlined to benefit Welsh, Carson, Anderson & Stowe, Warburg Pincus LLC, and Permira Advisers LLC (the Selling Stockholders), with no proceeds going to Clearwater itself. The shares were intended to be sold at market or negotiated prices.

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