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.
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 Seeking Funds, Will Sell Stock
T-Mobile today said it intends to raise capital by selling up to 17.4 million shares in stock. T-Mobile said it will use the proceeds from the sale for "general corporate purposes, including capital investments and acquisition of additional spectrum." T-Mobile said the money won't be used for the AWS-3 spectrum auction, which is taking place right now.
SEC Investigating Suspicious BlackBerry Trades
The Securities and Exchange Commission has launched an investigation into trades of BlackBerry stock around the time a report suggested Samsung might buy the company. On January 14, Reuters reported that Samsung planned to buy BlackBerry for as much as $7.5 billion.
Sprint Expands LTE and Spark to More Markets
Sprint today increased the footprint of its LTE 4G network and its Sprint Spark service. Sprint LTE is now available in 41 new cities around the country, bringing the total to 443 cities and 225 million people.