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CORRECTED-UPDATE 1-Biometric security firm Clear Secure targets $4.34 bln valuation in U.S. IPO

·1 min read

(Corrects to say valuation of about $4.34 billion, not $2.2 billion in in headline, paragraph 1)

June 23 (Reuters) - Clear Secure Inc, which uses biometric technology to validate identity, is looking to raise as much as $396 million through a U.S. initial public offering at a valuation of about $4.34 billion, according to a regulatory filing on Wednesday.

The New York-based company plans to sell 13.2 million shares of its Class A common stock on the New York Stock Exchange, priced between $27 and $30 per share.

Clear Secure was launched in 2010 with the view to create smooth travel experiences with added security in a post 9/11 world.

Its businesses include the CLEAR Plus, a consumer aviation subscription service, and its mobile applications, which together have the largest users of its platform.

Net proceeds from the offering will be given to Alclear Holdings, an entity controlled by co-founder and Chief Executive Officer Caryn Seidman-Becker, in exchange for Alclear non-voting common units equal to the number of shares to be offered in IPO.

The company's technology is present across 38 airport locations and 26 sports and entertainment partners across the United States, with 61 million cumulative platform users.

Its information security program was given the highest certification rating by the U.S. Department of Homeland Security, the filing showed.

Goldman Sachs, J.P. Morgan, Allen & Co and Wells Fargo Securities are the lead underwriters for the offering.

Clear's stock will be listed under the symbol "YOU". (Reporting by Sohini Podder in Bengaluru; Editing by Shinjini Ganguli)