Clearwire to raise USD 300 mln in share offering

News Wireless United States 6 DEC 2011
Clearwire to raise USD 300 mln in share offering
US Wimax operator Clearwire plans to raise USD 300 million in a public offering of Class A shares. Underwriters will have a 30-day option to sell another USD 45 million in Class A shares if demand warrants. Clearwire's largest shareholder Sprint will exercise its right to match the new capital by buying Class B shares for the same amount. The net proceeds will be used for general corporate and working capital purposes, including the deployment of LTE technology alongside the company's Wimax network.

Categories:

Mobile

Companies:

Sprint,  Clearwire

Countries:

United States

Tags:

Shareholders & subsidiaries, Financial funding

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