CLEAR Secure’s $470.6 Million IPO

CLEAR Secure's $470.6 Million IPO

Sullivan & Cromwell LLP advised the underwriters on the deal, while Paul, Weiss advised CLEAR Secure.

CLEAR Secure Inc. completed its $470.6 million initial public offering on July 2, which included the full exercise of the underwriters’ option to purchase additional shares. The shares began trading June 30 on the New York Stock Exchange under the symbol “YOU.” CLEAR provides a secure identity platform that uses biometrics to automate the identity verification process at facilities such as airport security checkpoints and sports stadiums.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo LLC acted as joint lead book-running managers.

The S&C team representing the underwriters included Cathy Clarkin (Picture), Ben Rump and Katya Roze. Tracey Russell advised on FINRA matters. Heather Coleman, Emma Guido and Kian Khajooei advised on employment and compensation matters. Ron Creamer, Michael Orchowski and Nir Fishbien advised on tax matters. Justin Orr and Elizabeth Levin advised on intellectual property matters.

Paul, Weiss advised CLEAR Secure with a team which included corporate partners Brian Janson, Brian Scrivani and Gregory Ezring and counsel Patricia Vaz de Almeida and Frances Mi; tax partner Brad Okun; executive compensation partner Jean McLoughlin and counsel Cynthia Akard; intellectual property partner Claudine Meredith-Goujon and counsel Michael Kurzer; and litigation partners Jeannie Rhee and Jeh Johnson, and counsel Steven Herzog.

Involved fees earner: Cynthia Akard – Paul Weiss Rifkind Wharton & Garrison; Gregory Ezring – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Brian Janson – Paul Weiss Rifkind Wharton & Garrison; Jeh Charles Johnson – Paul Weiss Rifkind Wharton & Garrison; Michael Kurzer – Paul Weiss Rifkind Wharton & Garrison; Jean McLoughlin – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; Frances Mi – Paul Weiss Rifkind Wharton & Garrison; Brad Okun – Paul Weiss Rifkind Wharton & Garrison; Jeannie Rhee – Paul Weiss Rifkind Wharton & Garrison; Brian Scrivani – Paul Weiss Rifkind Wharton & Garrison; Patricia Vaz de Almeida – Paul Weiss Rifkind Wharton & Garrison; Catherine Clarkin – Sullivan & Cromwell; Heather Coleman – Sullivan & Cromwell; Ronald Creamer – Sullivan & Cromwell; Nir Fishbien – Sullivan & Cromwell; Emma Guido – Sullivan & Cromwell; Elizabeth Levin – Sullivan & Cromwell; Michael Orchowski – Sullivan & Cromwell; Justin Orr – Sullivan & Cromwell; Ekaterina Roze – Sullivan & Cromwell; Ben Rump – Sullivan & Cromwell; Tracey Russell – Sullivan & Cromwell;

Law Firms: Paul Weiss Rifkind Wharton & Garrison; Sullivan & Cromwell;

Clients: CLEAR Secure; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Wells Fargo Securities;

Author: Martina Bellini