Wednesday, December 14, 2011

Clearwire Raises $734 in Stock Sale

Bellevue-based Clearwire has banked $734M in a public stock offering, which it will use to build out both its WiMax and LTE 4G network. Clearwire said $384.1M comes from its public offering, and $331.4M comes from Sprint, which exercised preemptive rights to shares of Clearwire's Class B common stock. The firm said in a statement that the equity raise was a "critical step" in achieving its long term business plans.