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Clearwire Taps Additional $80M in Cash from Sprint

Mar 28, 2013, 8:48 AM by Eric M. Zeman

Clearwire today said that it will, for a second time, draw $80 million in financing made available by Sprint. The $80 million option was put in place as part of Sprint's plan to acquire the portion of Clearwire that it doesn't already own. Clearwire, which is transitioning from WiMax to LTE, needs the financing to continue operations. Clearwire can tap into an $80 million round once per month between now and October. Sprint is facing shareholder opposition in its attempt to purchase Clearwire, which it needs to complete in order to facilitate its own equity sale to Japan's Softbank.

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timvideo

Mar 28, 2013, 10:03 PM

why finance clearwire

Sprint needs to cut clearwire off and choke them, stupid investors have their head in their rear on what they think clearwire is worth, if sprint quit pouring financial assistance in clearwire it would cease to exist

Phineas

Because this buys them more access into CLWR and therefore more ability to take over the company. This move just closely aligns CLWR with Sprint's deal vs. Dish's offer (which isn't a real offer anyway).

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