Louis Navellier’s #1 Stock for 2022

On October 20, the man who recommended Google before anyone else will reveal his #1 stock pick for 2022 — for FREE — ticker symbol and all — in a special presentation.

Wed, October 20 at 4:00PM ET

CLEAR IPO: 12 Things to Know About YOU Stock as ID Verification Play Clear Secure Secure Goes Public

Clear Secure (NYSE:YOU), an ID verification company, has revealed details of its initial public offering (IPO) as shares of its stock prepare to start trading today.

A hand touches a digital chart with the text "IPO."

Source: Shutterstock

Here’s everything investors need to know about the Clear Secure IPO.

  • The company is listing its shares on the New York Stock Exchange under the YOU stock ticker.
  • The IPO will include 13.2 million shares priced at $31 each.
  • That’s above Clear Secure’s previous IPO price range of $27 per share to $30 per share for its stock.
  • The company expects gross proceeds from the offering to be $409.2 million.
  • There’s also a 3-day option for underwriters to purchase an additional $1.98 million shares of YOU stock at the IPO price.
  • If underwriters fully exercise this option. Clear Secure expects gross proceeds from the IPO to reach $470.6 million.
  • Clear Secure intends to use the funds from the offering to purchase non-voting common units equal to the number of shares of Class A common stock in its offering from parent company Alclear Holdings.
  • Alclear Holdings will then use those funds to handle general corporate purposes.
  • The Clear Secure IPO is set to close on Friday.
  • The lead book-runners of the IPO are Goldman Sachs (NYSE:GS), J.P. Morgan (NYSE:JPM) Securities, Allen & Company, and Wells Fargo (NYSE:WFC) Securities.
  • LionTree Advisors and Stifel, Nicolaus & Company served as passive book-runners for the IPO.
  • Telsey Advisory, Centerview Partners, Loop Capital Markets, and Roberts & Ryan Investments are co-managers of the offering.

There’s plenty more hot stock news for hungry investors to check out below!

InvestorPlace.com offers deep dives into all of the latest stock market news with our daily coverage of the space. A few examples of stories to look in on today include why Cuentas (NASDAQ:CUEN) stock is soaring, what has Bed Bath and Beyond (NASDAQ:BBBY) stock on the move, as well as what else to expect from the market today. You can learn all about these subjects at the following links!

More Stock Market News for Wednesday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/06/clear-ipo-12-things-to-know-about-you-stock-as-id-verification-play-clear-secure-secure-goes-public/.

©2021 InvestorPlace Media, LLC