Sprint has announced the successful completion of its transaction to acquire 100 percent ownership of Clearwire. The merger agreement was first announced on 17 December 2012 and Clearwire shareholders approved the transaction at a special meeting of stockholders held on 8 July 2013. The transaction closed and became effective on 9 July 2013.
At the effective time, each share of Class A common stock of Clearwire automatically converted into the right to receive USD 5.00 per share in cash. As a result of the completion of the transaction, the common stock of Clearwire will no longer be listed for trading on the Nasdaq stock exchange and Clearwire expects no further trading after the close of business on 9 July 2013.
Also, under the terms of the Indenture, dated as of 8 December 2010, by and among Clearwire Communications, Clearwire Finance, the guarantors named therein and Wilmington Trust, National Association, as trustee, the transaction constitutes a Fundamental Change for the purposes of the 8.25 percent Notes Indenture with an effective date of 9 July 2013.
