Clearwire Again Warns of Cash Shortfall
Feb 17, 2012, 9:16 AM by Eric M. Zeman
As part of its quarterly filings, Cleawire indicated that while it has enough cash to last through the end of 2012, it will likely need to seek more sources of funding to continue operations beyond December. "We do not expect our operations to generate cumulative positive cash flows during the next 12 months," said Clearwire. "We may need to raise substantial additional capital to fund our business." Clearwire recently received $1 billion in funding, but also had to make a $300 million debt payment. Clearwire expects to spend $600 million over the course of the next two years building its Long Term Evolution 4G network. Sprint owns 54% of Clearwire and is building its own LTE network in conjunction with Clearwire.
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