NEW YORK, June 29, 2021 /PRNewswire/ -- CLEAR Secure, Inc. ("CLEAR") today announced the pricing of its initial public offering of 13,200,000 shares of its Class A common stock at an initial offering price of $31.00 per share. CLEAR has granted the underwriters a 30-day option to purchase up to an additional 1,980,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to trade on the New York Stock Exchange under the symbol "YOU" on June 30, 2021.
CLEAR expects the gross proceeds of the offering to be approximately $409.2 million, before deducting underwriting discounts and commissions, or $470.6 million if the underwriters exercise their option to purchase additional shares in full. CLEAR intends to contribute the net proceeds from the offering to Alclear Holdings, LLC ("Alclear") in exchange for a number of Alclear non-voting common units equal to the number of shares of Class A common stock CLEAR issues in the offering, and to cause Alclear to use such contributed amount to pay offering expenses and for general corporate purposes. The offering is expected to close on July 2, 2021, subject to customary closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Allen & Company LLC and Wells Fargo Securities, LLC are acting as lead book-runners for the offering. LionTree Advisors LLC and Stifel, Nicolaus & Company, Incorporated are acting as passive book-runners for the offering. Telsey Advisory Group LLC, Centerview Partners LLC, Loop Capital Markets LLC and Roberts & Ryan Investments, Inc. are acting as co-managers for the offering.
The offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 866-471-2526 or by email at [email protected], J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at [email protected], Allen & Company LLC, Attn: Prospectus Department, 711 5th Avenue, New York, NY 10022, or by telephone at 212-339-2220, or by email at [email protected], or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, toll-free at (800) 326-5897 or email a request to [email protected].
A registration statement on Form S-1 relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
With CLEAR, you are always you. CLEAR's mission is to enable frictionless and safe journeys using your identity. With more than 5.6 million members and 100+ unique locations and partners across North America, CLEAR's identity platform connects you to the cards in your wallet - transforming the way you live, work and travel. Trust and privacy are the foundation of CLEAR. We have a commitment to members being in control of their own information and never sell member data. CLEAR is at the highest level of security by U.S. government regulators and is also certified as Qualified Anti-Terrorism Technology under the SAFETY Act.
Gladstone Place Partners Lauren Odell / Patricia Figueroa 212-230-5930