Cloud-Native Brokerage Services Firm Clear Street Abandons $351 Million U.S. IPO

Stock News02-20 15:43

Cloud-native brokerage clearing and capital markets services provider Clear Street Group Inc. (CLRS.US) officially withdrew its application for an initial public offering in the United States this Thursday. The company had previously filed to offer 13 million shares at a price between $26 and $28 per share, aiming to raise $351 million. Notably, the firm had reduced its offering size by 65% just one week earlier. Based on the midpoint of the proposed price range, the company's valuation would have reached $8.2 billion. Last Friday, Clear Street postponed the IPO process citing market conditions and indicated it would reconsider going public at a more opportune time. The fintech company, founded in New York in 2018, generated sales of $945 million over the twelve-month period ending September 30, 2025. It had planned to list on the Nasdaq under the ticker symbol "CLRS." The original underwriting syndicate included Goldman Sachs, Bank of America Securities, Morgan Stanley, UBS Investment Bank, ClearStreet, BMO Capital Markets, Barclays, RBC Capital Markets, TD Securities, Piper Sandler, CIBC World Markets, Regions Securities, BTIG, and M&T Securities.

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