Clear Secure, which provides a biometric identity verification platform, raised $409 million by offering 13.2 million shares at $31, above the range of $27 to $30.
Clear Secure's secure identity platform uses biometrics such as eyes, face, and fingerprints to automate the identity verification process in CLEAR lanes at airports, in-person events, and healthcare facilities. The company's main offerings include CLEAR Plus, a consumer aviation subscription service that enables predictable and fast airport security experiences, and two mobile apps, including its flagship CLEAR app. As of May 31, 2021, Clear Secure's network included 38 airports, 26 sports and entertainment partners, and 67 Health Pass-enabled partners.
The New York, NY-based company plans to list on the NYSE under the symbol YOU. Goldman Sachs, J.P. Morgan, Allen & Company, Wells Fargo Securities, LionTree, and Stifel acted as joint bookrunners on the deal.
