Form 4: Clearwater Analytics Share Sale by Permira Entities

Galibier Purchaser, LLC, a Permira-affiliated entity, sold 1,784,316 shares of Clearwater Analytics Class A Common Stock at $24.18 per share on August 26, 2024.

Summary

• Galibier Purchaser, LLC, an entity related to Permira, disposed of 1,784,316 shares of Clearwater Analytics Holdings, Inc. Class A Common Stock on August 26, 2024.
• The sale price was $24.18 per share.
• The transaction involved the conversion of Class D Common Stock into Class A Common Stock before the sale.
• Following the transaction, Galibier Purchaser, LLC still indirectly holds 18,489,978 shares of Class A Common Stock.
• The reporting entities include Galibier Purchaser, LLC, Galibier Holdings, LP, Galibier Holdings GP, LLC, Gali SCSp, and Permira VII GP S.a r.l., all of which may be deemed to share beneficial ownership.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to a share sale. It doesn't inherently convey positive or negative sentiment, but rather reports a transaction. The sentiment is neutral.

Industry Context

Private equity firms like Permira often reduce their stakes in portfolio companies after an IPO to realize gains and return capital to investors. This sale is a continuation of that trend.

Comparison to Industry Standards

• Similar transactions are common after the IPO lock-up period expires, allowing early investors like Permira to monetize their investments.
• Other examples include Vista Equity Partners reducing its stake in Jamf Holding Corp. and Thoma Bravo selling shares in various portfolio companies after their respective IPOs.

Key Dates