Clearwire Raises $80M From Sprint

Bellevue-based Clearwire said today that it has elected to draw $80M from Sprint, as part of an earlier agreement with the firm for financing. Clearwire said that the move comes in conjunction with a deal with Sprint, which removes Sprint's obligation to provide three more financing terms in August, September, and October, to build out its wireless broadband network. Clearwire said those financing agreements were based on a deal to accelerate build out of its network. The company explained it does not expect to enter into an accelerate build-out agreement with Sprint at this time.