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.
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