Form 4: ICONIQ Strategic Partners V, L.P. Reports Disposition of Enfusion, Inc. Shares Following Merger

ICONIQ Strategic Partners V, L.P. and related entities report the disposition of Enfusion, Inc. shares and common units following the merger with Clearwater Analytics Holdings, Inc.

Summary

• ICONIQ Strategic Partners V, L.P., along with affiliated entities, filed a Form 4 detailing changes in beneficial ownership of Enfusion, Inc. securities.
• The filing is related to the merger between Enfusion, Inc. and Clearwater Analytics Holdings, Inc., which was agreed upon on January 10, 2025.
• As a result of the merger, eligible shares of Enfusion's Class A common stock and common units of Enfusion Ltd. LLC were converted into the right to receive cash, shares of Clearwater Analytics Holdings, Inc.'s Class A common stock, or a combination of both.
• The reporting entities disposed of 538,887 Class A Common Stock, 722,707 Class A Common Stock, and 7,748,000 Class A Common Stock.
• They also disposed of 5,030,000 Common Units of Enfusion Ltd. LLC.
• The consideration received was subject to proration as per the merger agreement.
• ICONIQ Strategic Partners V GP, L.P. is the sole general partner of ICONIQ V, ICONIQ Strategic Partners V-B, L.P. and ISP V-B EF LP.
• ICONIQ V is the sole managing member of ISP V Main Fund EF LLC.
• ICONIQ Strategic Partners V TT GP, Ltd. is the sole general partner of ICONIQ V GP.
• Divesh Makan, William J.G. Griffith, and Matthew Jacobson are the sole equity holders of ICONIQ V Parent GP.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to a merger; therefore, the sentiment is neutral.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects the ongoing consolidation within the financial technology sector, where companies are merging to achieve greater scale and offer more comprehensive solutions.

Stakeholder Impact

• Shareholders of Enfusion, Inc. received consideration as outlined in the merger agreement.
• The merger may impact employees of both Enfusion, Inc. and Clearwater Analytics Holdings, Inc. due to potential synergies and restructuring.

Key Dates

Keywords

Enfusion, Clearwater Analytics, Merger, ICONIQ Strategic Partners, Beneficial Ownership, Form 4, Disposition, Shares, Common Units