D.A. Davidson is pleased to announce it served as a co-manager on the initial public offering of 34,500,000 shares of common stock for Clearwater Analytics Holdings, Inc. (NYSE: CWAN). $621 million was raised in the offering which was priced on September 23, 2021 at $18.00 per share.
Headquartered in Boise, ID, Clearwater Analytics is a global SaaS solution for investment accounting, trusted by more than 1,000 organizations with more than $5.6 trillion in assets. The Company's solutions help its clients make the most of their investment portfolio by delivering timely, validated investment accounting with risk, compliance, and tax reporting. Clearwater's cloud-native software allows clients to radically simplify their investment accounting operations, enabling them to focus on higher-value business functions such as asset allocation strategy and investment selection. Clearwater's platform provides comprehensive accounting, data and advanced analytics as well as highly-configurable reporting for global investment assets daily or on-demand, instead of weekly or monthly.
This transaction represents another successful closing by D.A. Davidson's technology investment banking group. With the recently announced acquisition of Marlin & Associates, D.A. Davidson is one of the most active technology groups in the United States. Since 2019, the combined technology group has completed over 40 advisory transactions and raised more than $20 billion in total capital across 35+ public offerings.
D.A. Davidson's technology practice brings sector knowledge, transactional expertise, and full service capabilities to our clients. To learn more about our practice, please click here.
Investment Banking Deal Team
JOE MORGAN
Co-Head of Technology Investment Banking
(714) 850-8355
jmorgan@dadco.com GREG THOMAS
Managing Director
(503) 603-3055
gthomas@dadco.com
DAVID DOUGLAS
Vice President
(503) 603-3097
asickinger@dadco.com KOSTA BRKOVIC
Analyst
kbrkovic@dadco.com
Selected Recent Technology Transactions
D.A. Davidson & Co.
D.A. Davidson is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 and headquartered in Great Falls, Montana, with corporate offices in Denver, Los Angeles, Portland, and Seattle, the company has approximately 1,400 employees and offices in 28 states.
D.A. Davidson & Co.'s Investment Banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive experience service middle market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions, and technology.
Together with its European partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International. Please click this link for additional information about D.A. Davidson.
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CLEARWATER ANALYTICS HOLDINGS, INC. 
