{"id":538016,"date":"2021-09-14T09:16:42","date_gmt":"2021-09-14T13:16:42","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/clearwater-analytics-announces-launch-of-initial-public-offering\/"},"modified":"2021-09-14T09:16:42","modified_gmt":"2021-09-14T13:16:42","slug":"clearwater-analytics-announces-launch-of-initial-public-offering","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/clearwater-analytics-announces-launch-of-initial-public-offering\/","title":{"rendered":"Clearwater Analytics Announces Launch of Initial Public Offering"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n BOISE, Idaho<\/span>, Sept. 14, 2021<\/span> \/PRNewswire\/ — Clearwater Analytics Holdings, Inc. (“Clearwater Analytics” or the “Company”),\u00a0a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, today announced that it has launched the roadshow for the initial public offering of its Class A common stock. The Company is offering 30,000,000 shares of its Class A common stock and intends to grant the underwriters a 30-day option to purchase up to an additional 4,500,000 shares of its Class A common stock. The initial public offering price is expected to be between $14.00<\/span> and $16.00<\/span> per share. The Company intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “CWAN.”<\/p>\n

\n \"Clearwater\n <\/div>\n

The Company intends to use the net proceeds from this offering to purchase equity interests from its operating subsidiary and for general corporate purposes to support the growth of the business. <\/p>\n

The operating subsidiary intends to use the net proceeds it receives from the sale of equity interests to the Company, together with the proceeds from the new term loan, to repay outstanding borrowings under its credit facility and pay any associated prepayment penalties and accrued and unpaid interest to the date of repayment. The operating subsidiary will bear or reimburse the Company for all of the expenses of the initial public offering.<\/p>\n

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as lead bookrunners and as representatives of the underwriters for the offering, with Credit Suisse Securities (USA<\/span>) LLC, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Oppenheimer & Co. Inc., Piper Sandler<\/span> & Co. and William Blair<\/span> & Company, L.L.C. acting as additional bookrunners. BNP Paribas Securities Corp., D.A. Davidson & Co., AmeriVet Securities, Inc., Loop Capital Markets LLC, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank<\/span> & Co., LLC are acting as co-managers for the offering.<\/p>\n

The offering will be made only by means of a prospectus, which has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and is available on the SEC’s website at www.sec.gov<\/a>. Copies of the preliminary prospectus relating to this offering may be obtained by contacting: <\/p>\n