Clearwater Analytics falls after launching secondary offering

Clearwater Analytics Holdings

11/06/2024 13:52

** Investment accounting software provider Clearwater
Analytics'  CWAN.N  shares fall 3.3% to $19.44 in premarket
trade
    ** CWAN, late on Monday, announced it had launched a
secondary public offering of 12 mln shares
    ** Private equity firm Warburg Pincus and British investment
firm Permira Advisers are selling shares in the offering
    ** CWAN has 245.7 mln outstanding shares and a $4.94 bln
market cap - LSEG data
    ** Company will not receive any proceeds from the sale of
shares
    ** CWAN shares on Mon closed flat at $20.11
    ** Citigroup is the sole underwriter for the offering
    ** As of last close, CWAN shares up 0.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))