Clearwire boosts size of stock offering to $350M
Clearwire expects to raise $350 million in its stock offering next week, an increase over its previous plans to raise $300 million.
The money-losing mobile broadband provider and wholesaler plans to sell 175 million Class A shares at $2 in an offering expected to close on December 13, the company said in a statement today. Clearwire said it plans to use the proceeds from the offering to continue to operate and upgrade its existing WiMax network to a newer technology called LTE.
Sprint Nextel, the majority shareholder in Clearwire, will buy about 172 million shares of the company's Class … Read more
