Clearwater Analytics Holdings (CWAN) unveiled late Monday an underwritten secondary public offering of 25 million class A common shares.
The company said it is conducting the resale on behalf of certain affiliates of Welsh, Carson, Anderson & Stowe, Warburg Pincus, and Permira Advisers.
The company will not receive any proceeds from the sale.
Shares of the company dropped 3.6% in after-hours activity.
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