Clearwire Banks Another $734 Million
Clearwire says that its recent stock offering has brought in a total of $734 million in new capital for the WiMax network operator. The stock offering itself captured $402.5 million. Clearwire received an additional $331.4 million in proceeds from Sprint's exercise of preemptive right to purchase 173.6 million shares of Class B Common Stock. The funds will be used to run the business as well as help it build out its planned TDD-Long Term Evolution 4G network.