Clearwater Analytics Holdings, Inc. - CWAN STOCK NEWS

Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management solutions, announced its participation in several investor conferences during the second quarter of 2023. Key events include a fireside chat with Jim Cox, CFO, at the SVB MoffettNathanson's Inaugural Technology, Media & Telecom Conference in New York City on May 18, 2023. Sandeep Sahai, CEO, and Mr. Cox will also participate in the J.P. Morgan 51st Annual Global Technology, Media and Communications Conference in Boston on May 22, 2023. Additional appearances by Mr. Cox include the Jefferies Software Conference on May 31 and the Morgan Stanley US Financials, Payments & CRE Conference on June 12. Clearwater Analytics offers solutions that automate investment lifecycle management for over $6.4 trillion in assets.

Clearwater Analytics (NYSE: CWAN) has appointed Scott Erickson as its first Chief Revenue Officer, effective April 4, 2023. With 18 years at Clearwater, Erickson will oversee global sales across Europe, Asia, and the Americas, driving the company's growth strategy. CEO Sandeep Sahai highlighted recent large wins in various regions and emphasized the transformative impact of Clearwater's SaaS platform for asset managers and insurers. To strengthen its European presence, Clearwater has also appointed key leaders in the region. Erickson's appointment follows the resignation of Gayatri Raman as President of Europe, who is leaving to focus on family.

Clearwater Analytics (NYSE: CWAN) has announced a partnership with BNP Paribas' Securities Services to deliver integrated investment accounting and reporting solutions alongside custodian services. This collaboration aims to address challenges asset owners face with legacy systems, enabling access to modern solutions that drive measurable business impact. With a global custody network spanning over 90 markets and management of EUR 11.1 trillion in assets, BNP Paribas provides extensive reach. The joint offering, which has begun benefiting clients like INTÉRIALE Mutual, is designed to streamline onboarding and enhance capital allocation decision-making across various asset classes.

Clearwater Analytics (NYSE: CWAN) announced that the receivership of Silicon Valley Bank (SVB) has a non-material impact on its operations. The Company does not hold deposits at SVB and its affiliate represents less than 1.5% of annualized recurring revenue as of December 31, 2022. Payments are current, and the client may continue its relationship with Clearwater, even if SVB's affiliate becomes inactive. Clearwater does not foresee any material exposure to SVB's situation, ensuring liquidity and treasury operations remain unaffected.

Clearwater Analytics Holdings, Inc. (NYSE: CWAN) announced the pricing of its underwritten secondary public offering of Class A common stock at $15.00 per share, totaling 13,000,000 shares to be sold by affiliates of Welsh, Carson, Anderson & Stowe. Clearwater will not receive any proceeds from this sale. The underwriters also have a 30-day option to purchase an additional 1,950,000 shares. The offering closes on March 13, 2023. J.P. Morgan, Morgan Stanley, and other firms are involved in the underwriting. The shares are offered under an effective shelf registration statement filed with the SEC on March 8, 2023.

On March 8, 2023, Clearwater Analytics announced a secondary public offering of 13,000,000 shares of its Class A common stock, facilitated by certain affiliates of Welsh, Carson, Anderson & Stowe. The affiliates plan to grant underwriters a 30-day option to purchase an additional 1,950,000 shares. Notably, the company will not receive any proceeds from this sale. The offering, which is subject to market conditions, is being offered under an automatically effective shelf registration statement filed with the SEC. Clearwater Analytics is recognized for its SaaS-based investment accounting and analytics solutions, managing over $6.4 trillion in assets.