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The Federal Reserve’s rate cut in October, marking the second drop in rates this year, can have immediate implications on the returns earned by U.S. companies on their idle cash, Clearwater said.
Continuing a record-breaking year in IPOs, online financial services provider Clearwater Analytics made its New York Stock Exchange debut. CEO Sandeep Sahai joined Cheddar’s “Closing Bell” to talk about why this was an opportune time to go public. He noted that the move has signaled the company as a disrupter in the online investment space, which he ultimately believes will help others see the company as an industry leader, and allows it to expand overseas. Sahai also explained that a public company has an easier time hiring global talent, a future in M&A, and can share its success with employees.
ZACK GUZMAN: Welcome back. In today’s IPO power hour, we are watching shares of Clearwater Analytics, CA. Nice 30% pop in their debut. The company, which provides cloud native software for investment, accounting and analytics, raised more than $500 million by offering 30 million shares at $18 bucks a pop. That was above the initially advertised range of $14 to $16. The company also counts among its clientele, some rather large names you might have heard of, including Facebook, Cisco, and JPMorgan Chase.
Clearwater Analytics Holdings Inc., a private-equity-backed financial software maker from Idaho, rose 41% in its trading debut after pricing its initial public offering above a marketed range to raise $540 million. Clearwater’s shares closed in New York trading Friday at $25.37, giving the company a market value of $5.9 billion. The company sold 30 million shares Thursday for $18 each after marketing them for $14 to $16.
Privately held Boise software company Clearwater Analytics got a huge boost when its initial public offering debuted Friday on the New York Stock Exchange. Clearwater shares opened 32% higher, at $23,75, than the IPO price of $18 per share. It led to a valuation of the company at $5.5 billion. Earlier, private-equity firm Welsh Carson Anderson & Stowe, the company’s majority owner, expected an IPO price of only $14 to $16 a share.
Clearwater Analytics Holdings, Inc. today announced the pricing of its initial public offering of 30,000,000 shares of its Class A common stock at a price to the public of $18.00 per share.
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Clearwater Analytics Holdings, Inc. today announced that it has launched the roadshow for the initial public offering of its Class A common stock.
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Clearwater Analytics, a provider of SaaS-based investment accounting, reporting, and analytics solutions, has appointed Jonathan Flitt as Global Head of Private Assets. In this capacity, he is leading product management, strategy, and execution to deliver platform capabilities and innovative solutions that provide total portfolio transparency for the rapidly-growing private markets space. This appointment reflects Clearwater’s continued investment in these asset classes.