Clearwater Analytics falls as PE firms look to slice stake

Clearwater Analytics Holdings

11/11/2024 21:50

** Shares of investment accounting software provider
Clearwater Analytics  CWAN.N  fall 3.6% to $29.90 in extended
trade
    ** CWAN launches a secondary public offering of 25 mln Class
A shares worth $775.5 mln based on the stock's last close
    ** Private equity firms Welsh, Carson, Anderson & Stowe,
Warburg Pincus and Permira Advisers are selling shares in the
offering
    ** CWAN has 247 mln outstanding shares with a $7.88 bln
market capitalization - LSEG data
    ** J.P. Morgan is the sole book-running manager for the
proposed offering
    ** As of last close, CWAN shares up ~55% YTD

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