Clearwire to Offer Stock in Bid to Raise Capital
Clearwire today announced plans to raise approximately $300 million from a public offering of Class A Common stock. Clearwire said that it plans to use any funds raised through the offering for general corporate purposes, as well as to help build its planned Long Term Evolution 4G mobile data network alongside its existing WiMax network. The funds will also be used to help operate and maintain both networks. The offering is being underwritten by J.P. Morgan, BofA, Merrill Lynch, and Jefferies & Company. Clearwire recently announced that it will receive up to $1.6 billion from Sprint over the next few years as the two companies transition from WiMax to Long Term Evolution 4G. Clearwire has struggled to find funding for the last 12 months, and through most of 2011 ceased new market rollouts and reduced its product offerings.
Sprint Can Commence WiMax Shutdown
Feb 2, 2016
A Massachusetts court has given Sprint permission to turn off its WiMax network in stages over the next two months. Sprint will turn WiMax off in 16 cities, including New York, today, with 39 more to follow on February 29, and the remaining 25 cities on March 31.
Microsoft Pushes Windows 10 Mobile Preview Build 10572
Oct 20, 2015
Microsoft today made a new technical preview of Windows 10 Mobile available to fast ring members of the Windows Insider program. As with the previous build, interested testers will need to downgrade to Windows Phone 8.1 before installing build 10572.
Essential Cans Plans for New Phone, Puts Itself Up for Sale
May 24, 2018
Essential Products is for sale, reports Bloomberg, and has cancelled plans to develop a new phone. The company has hired a financial firm in order to help advise it on a potential sale, according to Bloomberg's sources, who also say Essential has already received interest from one possible buyer.
Sprint's WiMax Shutdown May Halt Service for Charities
Oct 15, 2015
Sprint plans to deactivate its WiMax network on Nov. 6, but some charities say the change will eliminate internet service for some 300,000 Americans altogether.
Bank of America ATMs to Support Android Pay
May 18, 2016
Bank of America today said it will add Android Pay support to some 5,000 ATMs around the country. Bank of America customers who have added their BofA debit card to the Android Pay app will be able to tap their NFC-equipped phone to compatible ATMs to withdraw cash and perform other account interactions.