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June 23, 2021, 6:44 a.m. EDT

Clear Secure's IPO terms could value company at up to $4.3 billion

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By Tomi Kilgore

Clear Secure Inc. /zigman2/quotes/227698187/composite YOU +2.98% has set terms for its initial public offering, in which the New York-based provider of safer and easier travel experiences could be valued at up to $4.34 billion. The company is looking to raise up to $396.0 million as it is offering 13.20 million shares in the IPO, which is expected to price between $27 and $30 a share. The company expects to have a total of 144.8 million shares outstanding after the IPO, including Class A, Class B, Class C and Class D shares. The stock is expected to list on the NYSE under the ticker symbol "YOU." Goldman Sachs, J.P. Morgan, Allen & Co. and Wells Fargo Securities are the lead underwriters. The company recorded a pro forma net loss of $10.8 million on revenue of $230.8 million in 2020, after a loss of $54.2 million on revenue of $192.3 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -0.52% has edged up 0.5% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.54% has advanced 13.1%.

/zigman2/quotes/227698187/composite
US : U.S.: NYSE
$ 46.62
+1.35 +2.98%
Volume: 144,469
July 29, 2021 2:49p
P/E Ratio
238.00
Dividend Yield
N/A
Market Cap
$6.64 billion
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 63.12
-0.33 -0.52%
Volume: 129,426
July 29, 2021 2:40p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,424.26
+23.62 +0.54%
Volume: 1.40B
July 29, 2021 2:51p
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