CLEAR announces 4,000,000 block share repurchase agreement with Delta Airlines and $100 million increase to share repurchase authorization
NEW YORK, Aug. 5, 2024 /PRNewswire/ -- CLEAR Secure, Inc. (NYSE:YOU), ("CLEAR ", or "The Company"), the secure identity company, announced the repurchase of 4,000,000 shares of Class A Common Stock in the third quarter of 2024 pursuant to a block share purchase agreement with Delta Air Lines, Inc. ("Delta") (NYSE:DAL).
Delta continues to own 4,277,958 shares of CLEAR's Class C Common Stock.
"CLEAR is an important partner whose technology enhances the travel experience for Delta's customers," said Ranjan Goswami, Delta's Senior Vice President, Consumer Experiences. "We look forward to our continued partnership."
"Delta was an early investor in CLEAR in 2016 and meaningfully accelerated our growth - a true win-win partnership," said Caryn Seidman Becker, CLEAR's CEO. "We look forward to continued collaboration as we create frictionless experiences for travelers."
CLEAR announced that its Board of Directors authorized a $100 million increase to its existing Class A Common Stock share repurchase program. Pro forma for the Delta repurchase, approximately $100 million in aggregate remains available under the repurchase authorization.
ABOUT CLEAR
CLEAR's mission is to create frictionless experiences. With over 22 million members and a growing network of partners across the world, CLEAR's identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we never sell member data. For more information, visit clearme.com.
Forward-Looking Statements
This release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any and such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including those described in the Company's filings within the Securities and Exchange Commission, including the sections titled "Risk Factors" in our Annual Report on Form 10- K. The Company disclaims any obligation to update any forward-looking statements contained herein.
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SOURCE CLEAR