CLEAR announces 4,000,000 block share repurchase agreement with Delta Airlines and $100 million increase to share repurchase authorization
CLEAR Secure, Inc. (NYSE: YOU) has announced a significant stock repurchase agreement with Delta Air Lines, Inc. The company will repurchase 4,000,000 shares of Class A Common Stock from Delta in Q3 2024. Additionally, CLEAR's Board of Directors has authorized a $100 million increase to its existing share repurchase program.
Despite this transaction, Delta remains a significant shareholder, retaining 4,277,958 shares of CLEAR's Class C Common Stock. Both companies expressed their commitment to continuing their partnership, which began in 2016. After the Delta repurchase, approximately $100 million remains available under CLEAR's repurchase authorization.
CLEAR Secure, Inc. (NYSE: YOU) ha annunciato un importante accordo di riacquisto di azioni con Delta Air Lines, Inc. L'azienda procederà al riacquisto di 4.000.000 di azioni di Classe A Common Stock da Delta nel terzo trimestre del 2024. Inoltre, il Consiglio di Amministrazione di CLEAR ha autorizzato un aumento di 100 milioni di dollari al programma di riacquisto di azioni esistente.
Nonostante questa operazione, Delta rimane un azionista significativo, mantenendo 4.277.958 azioni di Classe C Common Stock di CLEAR. Entrambe le aziende hanno espresso il loro impegno a continuare la loro partnership, iniziata nel 2016. Dopo il riacquisto da parte di Delta, rimangono disponibili circa 100 milioni di dollari sotto l'autorizzazione di riacquisto di CLEAR.
CLEAR Secure, Inc. (NYSE: YOU) ha anunciado un importante acuerdo de recompra de acciones con Delta Air Lines, Inc. La compañía recomprará 4.000.000 de acciones de Clase A Comunes de Delta en el tercer trimestre de 2024. Además, la Junta Directiva de CLEAR ha autorizado un aumento de 100 millones de dólares en su programa de recompra de acciones existente.
A pesar de esta transacción, Delta sigue siendo un accionista significativo, manteniendo 4.277.958 acciones de Clase C Comunes de CLEAR. Ambas compañías expresaron su compromiso de continuar su asociación, que comenzó en 2016. Después de la recompra de Delta, aproximadamente 100 millones de dólares siguen disponibles bajo la autorización de recompra de CLEAR.
CLEAR Secure, Inc. (NYSE: YOU)는 Delta Air Lines, Inc.와 중요한 자사주 매입 계약을 발표했습니다. 회사는 2024년 3분기에 Delta로부터 4,000,000주를 매입할 예정입니다. 또한, CLEAR의 이사회는 기존 자사주 매입 프로그램에 대해 1억 달러 증액을 승인했습니다.
이 거래에도 불구하고 Delta는 중요한 주주로 남아 있으며, CLEAR의 클래스 C 보통주 4,277,958주를 보유하고 있습니다. 두 회사는 2016년에 시작된 파트너십을 계속할 것에 대한 의지를 표명했습니다. Delta의 매입 후, CLEAR의 매입 승인 하에 약 1억 달러가 남아 있습니다.
CLEAR Secure, Inc. (NYSE: YOU) a annoncé un accord de rachat d'actions significatif avec Delta Air Lines, Inc. La société va racheter 4.000.000 d'actions ordinaires de classe A auprès de Delta au troisième trimestre 2024. De plus, le conseil d'administration de CLEAR a autorisée une augmentation de 100 millions de dollars de son programme de rachat d'actions existant.
Malgré cette transaction, Delta reste un actionnaire important, conservant 4.277.958 actions de classe C de CLEAR. Les deux entreprises ont exprimé leur engagement à poursuivre leur partenariat, qui a commencé en 2016. Après le rachat par Delta, environ 100 millions de dollars restent disponibles sous l'autorisation de rachat de CLEAR.
CLEAR Secure, Inc. (NYSE: YOU) hat eine bedeutende Vereinbarung zum Aktienrückkauf mit Delta Air Lines, Inc. angekündigt. Das Unternehmen wird 4.000.000 Aktien der Klasse A Stammaktien im dritten Quartal 2024 von Delta zurückkaufen. Darüber hinaus hat der Vorstand von CLEAR eine Erhöhung von 100 Millionen Dollar für das bestehende Aktienrückkaufprogramm genehmigt.
Trotz dieser Transaktion bleibt Delta ein bedeutender Aktionär und hält 4.277.958 Aktien der Klasse C Stammaktien von CLEAR. Beide Unternehmen haben ihr Engagement für die Fortsetzung ihrer Partnerschaft, die 2016 begann, bekundet. Nach dem Rückkauf durch Delta stehen noch etwa 100 Millionen Dollar unter der Genehmigung von CLEAR zum Aktienrückkauf zur Verfügung.
- Repurchase of 4,000,000 shares potentially increasing shareholder value
- $100 million increase in share repurchase authorization
- Continued strategic partnership with Delta Air Lines
- None.
Insights
CLEAR's repurchase of 4,000,000 shares from Delta Airlines and the
However, it's important to note that Delta retains 4,277,958 shares of Class C Common Stock, maintaining a substantial stake in CLEAR. This ongoing partnership suggests continued strategic alignment between the two companies. The repurchase's impact on CLEAR's liquidity and future growth investments should be closely monitored by investors.
This move by CLEAR demonstrates a strategic approach to capital allocation and shareholder value creation. The share repurchase from Delta could be interpreted as a vote of confidence in CLEAR's intrinsic value, potentially signaling that management believes the stock is undervalued. The additional
From a market perspective, this action might lead to increased investor interest and potentially support the stock price. However, it's essential to consider the broader market conditions and CLEAR's competitive position in the secure identity sector. The continued partnership with Delta, a major player in the airline industry, could provide CLEAR with a competitive edge in the travel security market.
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
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.
Media Contact:
CLEAR
media@clearme.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/clear-announces-4-000-000-block-share-repurchase-agreement-with-delta-airlines-and-100-million-increase-to-share-repurchase-authorization-302213948.html
SOURCE CLEAR
FAQ
How many shares is CLEAR repurchasing from Delta Airlines?
What is the increase in CLEAR's share repurchase authorization?
How many shares of CLEAR does Delta Airlines still own after the repurchase?
What is the total amount available under CLEAR's repurchase authorization after the Delta transaction?
