ClearList Launches Cap Table Management

Business Wire, New York, October 28, 2020

ClearList Holdings today announced a comprehensive capitalization table management offering that will be utilizing sophisticated technology for an enhanced user experience that will allow private companies to better manage and implement their capital markets goals.

The announcement comes in anticipation of formally launching secondary trading in private company securities on the ClearList electronic trading platform, which will transform price-discovery of private company securities.

The cap table management offering is part of ClearList’s distinctive marketplace for private company securities that can be utilized to streamline all process flows in the ClearList ecosystem from issuer to investor, custodian, and ultimately the ClearList platform for shareholder liquidity. The cap table functionality is a critical addition to ClearList’s clearing, settlement and trading process.

“ClearList’s cap table management is a superb product with a far more additive and efficient user experience,” said Bill White, CEO of ClearList. “Our platform is designed to provide expert 409A tax services, accounting and real-time accurate data – all at a fair and cost-effective price.  As we prepare to formally launch trading, cap table management will play an important role for private companies to realize their capital markets ambitions.”

Victor Calaba, Managing Director at Tudor Investment Corporation, an investor in ClearList Holdings,

said, “ClearList’s cap table management product is priced very competitively and will enable seamless integration with ClearList’s suite of services and functionality, including most importantly its forthcoming secondary trading platform. This will enable trading in a private company’s securities based on whatever customized rules and constraints an issuer may need.  ClearList’s private market participants will benefit from significantly improved liquidity by virtue of ClearList’s affiliation with GTS, which brings sophisticated market making and technology resources as the operator of the largest Designated Market Makers on the NYSE floor.”

ClearList’s cap table management offering is launching with three private companies:

  • Waffle Labs, Inc., a technology company that reinvents insurance and improves value for consumers. “ClearList and Waffle are like-minded in our missions of delivering to our respective clients a better, more efficient and more cost-effective offering utilizing advanced technology, said Quentin Coolen, co-founder & CEO of Waffle Labs.

  • Cibus, a leader in advanced plant-breeding technologies. Peter Beetham, Ph.D., and CEO of Cibus, said, “ClearList’s vast range of integrated services, from cap table management to trading secondary offerings, is a very attractive package for us as a growing private company.”

  • Carmell Therapeutics, a developer of Plasma-based Bioactive Materials that promote healing and reduce infections in multiple clinical settings. Randy Hubbell, president & CEO of Carmell, said, “The ClearList offering is unique, innovative and issuer-friendly. We are delighted to be among their inaugural clients for cap table management.”

About ClearList

ClearList Holdings LLC is the parent company of ClearList LLC and ClearList Securities LLC. 

ClearList is an advanced trading solution for private companies and investors.  ClearList establishes real-time, transparent price discovery based on actual investor sentiment – for a seamless and successful transition to the public market. 

Media Contact

Profile for ClearList

Rich Myers:

(347) 774-1125

Risk Disclosures

Private Placement Disclosure:

ClearList warns that investments in private, unregistered securities involves a high level of risk and may not be suitable for all investors. An investment in private company securities is highly speculative and should only be considered a long-term investment. Before deciding to invest, you should carefully consider your investment objectives, level of experience and risk appetite. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities, including on the ClearList LLC Alternative Trading System. There is also no guarantee that any private placement will be publicly listed through a direct listing or Initial Public Offering. You should be aware that each investment also carries its own specific risks and that you should complete your own independent due diligence regarding the investment including obtaining additional information, opinions, financial projections, and legal or other investment advice.

Risk Related to Private Securities:

Investing in private, unregistered securities is not suitable for all investors.  Investing in private company securities generally involves greater risks than investing in publicly traded securities.     Investing in private company securities involves risk of loss that investors should be prepared to bear.  Private company securities may be more difficult to buy and sell.  Trading opportunities may be more limited for private company securities that are not widely held.  There may be greater liquidity risk and the possibility that a security cannot be sold at an ideal time.  If this happens, an investor account may be required to continue to hold the security and losses could be incurred. 

Private Securities, as well as any particular investment, may not be suitable for everyone. With respect to any investment or security traded on the ClearList ATS we urge you to carefully evaluate its appropriateness for your situation.  You are strongly encouraged to complete your own independent due diligence before investing in private, unregistered securities, including obtaining additional information, opinions, financial projections, and legal or other investment advice.  Private, unregistered securities are also highly illiquid and there is no guarantee that a robust market will develop for such securities, including on the ClearList ATS.

No investment process is free of risk; no strategy or risk management technique can guarantee returns or eliminate risk in any market environment.  There is no guarantee that your investment processes will be profitable. Past performance is not a guide to future performance.  Any trading success enjoyed by others does not guarantee similar results for you. The value of investments, as well any investment income, is not guaranteed and can fluctuate based on market conditions.  Diversification does not assure a profit or protect against loss.

Affiliations – GTS Securities and/or GTS Execution Services may place orders on both sides of a market for private company securities traded on the ClearList ATS.  Both GTS Execution Services LLC and GTS Securities LLC are affiliates of ClearList LLC and ClearList Securities LLC through common ownership and all of these entities are registered broker-dealers.  Affiliates, officers, directors, and/or employees of ClearList LLC and/or ClearList Securities LLC may hold a position in the financial instruments of an issuer of private company securities wherein certain underwriting, private placement, or advisory services were performed and private securities of that issuer may be traded on the ClearList ATS.

Commissions/Transaction costs – Before you begin to trade, you should obtain details of all commissions and other charges for which you must be liable.

When products are purchased or sold, several types of incidental costs (including potential transaction fees and commissions) are incurred in addition to the current price of the security. These incidental costs may significantly reduce or even exclude the profit potential of the products.  In addition to such costs directly related to the purchase of products (direct costs), you must also take into account any follow-up costs (such as custody fees). You should inform yourself about any additional costs incurred in connection with the purchase, custody or sale of a private security before investing. 

Affiliate Disclosure

ClearList LLC, ClearList Securities LLC, and ClearList Technologies LLC are separate, but affiliated companies through common ownership.

ClearList LLC, is a Registered SEC Broker-Dealer and Member of FINRA & SIPC, which operates an Alternative Trading System (the ”ClearList ATS”).

ClearList Securities LLC, is a Registered SEC Broker-Dealer and Member of FINRA & SIPC, which has the ability to engage in the following business activities:

A. Private placement of securities;

B. Firm Commitment Underwriter;

C. Broker or dealer that offers or engages in on-line trading / electronic trading;

D. Broker or dealer selling tax shelters or limited partnerships in primary distributions;

E. Broker or dealer selling interests in unregistered private investment funds;

F. Broker selling corporate debt securities;

G. Broker retailing corporate equity securities over-the-counter;

H. Non-exchange member effecting transactions in listed securities through exchange member;

I. Broker selling tax shelters or limited partnerships in the secondary market;

J. Investment advisory services; and

K. Mergers and acquisitions including fairness opinions.

Check the background of the ClearList Broker-Dealers on FINRA’s BrokerCheck.

ClearList Technologies LLC offers licensed software products and other authorized services, including Cap Table Management, to companies in the private securities marketplace.

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