Clearwire Raises Stock Sale Target to $350 Million
Clearwire has raised the goal of its forthcoming sale of common stock from $300 million to $350 million. The offering has been priced at $2.00 per share to the public, and 175,000,000 shares are being offered. Sprint has agreed to contribute matching funds with its own stock purchase, boosting the total target to approximately $700 million. Clearwire will use the funds to run its business, build-out its planned Long Term Evolution network, as well as maintain its LTE and WiMax networks.
Sprint Takes a 33% Stake In Music Service Tidal
Sprint today said it has acquired a 33% stake in Tidal, a music and entertainment platform. Sprint plans to make Tidal's service available to its 45 million retail customers.
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.
T-Mobile Says 600 MHz Service Kicks Off In August
T-Mobile today said it plans to begin offering service through its 600 MHz spectrum next month. The company revealed the news in its second quarter earnings statement.
T-Mobile Says LTE Footprint Now Matches Sprint
T-Mobile CTO Neville Ray said the company's LTE 4G network now covers 280 million POPS. That's a slight improvement from the 275 million POPs T-Mobile said it covered at the end of April.