Sprint Turns to Investors for $500 Million
Today Sprint filed documents with the Securities and Exchange Commission in hopes to raise some $500 million in cash from investors. Sprint wants to offer senior unsecured notes that will mature in August 2017. Any raised funds would be used for general business expenses, as well as network expansion, debt services and acquisitions. Sprint recently announced it would acquire Virgin Mobile USA for $483 million. The company has taken a number of other steps in recent months to improve its financial footing, including outsourcing maintenance of its wireless network to Ericsson.
Sprint Raising More Capital for Network Expansion
Sprint is looking to raise more cash for covering a variety of expenses. To that end, the company today kicked off a sale of $1 billion in senior notes.
Sprint Falls to Become No. 4 US Carrier
Sprint reported its second quarter earnings today and the numbers reveal it has fallen behind competitor T-Mobile in the total number of customers. T-Mobile, which gained a total of 2 million new customers during the second quarter, reported a total customer base on 58.9 million.
SoftBank Invests Another $73 Million in Sprint
SoftBank has purchased yet more shares of Sprint stock, boosting its stake in the company to just over 80%. SoftBank shelled out $73 million for about 16.8 million shares.
Sprint CEO Predicts It'll Have Top Network In Two Years
Sprint CEO Marcelo Claure believes the company will have the number 1 or number 2 network in the country within 18 to 24 months. Claure made the comments while speaking at the Recode Conference.
Sprint Settles Lawsuit Over Nextel Merger for $131 Million
Sprint today settled a class-action lawsuit regarding its 2005 acquisition of Nextel for $131 million. Investors claim Sprint executives defrauded shareholders by inflating stock and bond prices after Sprint closed its acquisition of Nextel.
Why would they ask for $500 million after spending $483 million?????
If you cant afford to run your company then you should not buy another one!
If i cant afford to pay for my car loan i would not go buy another car!!!!!!
Yes Mr. CEO
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