Home › News ›

Clearwire Taps Additional $80M in Cash from Sprint

Mar 28, 2013, 8:48 AM by Eric M. Zeman

Clearwire today said that it will, for a second time, draw $80 million in financing made available by Sprint. The $80 million option was put in place as part of Sprint's plan to acquire the portion of Clearwire that it doesn't already own. Clearwire, which is transitioning from WiMax to LTE, needs the financing to continue operations. Clearwire can tap into an $80 million round once per month between now and October. Sprint is facing shareholder opposition in its attempt to purchase Clearwire, which it needs to complete in order to facilitate its own equity sale to Japan's Softbank.

Related

iPhone 14 Plus Offers a Big Screen For Less

Sep 7, 2022
Apple has revealed the iPhone 14 series, with new features, improved specs, and new size options. In place of a Mini option, the iPhone 14 will come in the same 6.1-inch and 6.7-inch screen size options as the Pro models.

Qualcomm Taps Iridium for Satellite Connectivity

Jan 5, 2023
Qualcomm has revealed Snapdragon Satellite , the company's solution for connecting Android phones directly to satellites for truly global coverage. The feature uses the Iridium network, a satellite constellation that has has been in operation for 25 years.

Verizon, AT&T Moving Forward with C-Band 5G Launch This Week Over FAA Objection

Jan 2, 2022
Verizon and AT&T this morning refused a request by federal transportation officials to delay this week's planned launch of 5G service in the critical new C Band. [Update: By evening, the two companies agreed to a two-week delay.] The FAA (Federal Aviation Administration) insists that the service could potentially interfere with radio altimeters that planes use to measure distance to the ground in poor weather.

Verizon Tweaks Plans, Adding True Unlimited + More Hotspot Data

Jan 5, 2022
Verizon has made a handful of changes to its unlimited plans, giving some customers a better value. The basic structure and pricing remain unchanged, but some plans now come with more data.

AT&T, Verizon Agree to Hold Back C Band 5G Near Airports

Jan 18, 2022
AT&T and Verizon are moving forward with this week's launch of 5G service in the new C Band, but have voluntarily agreed to new restrictions around airports at the request of major US airlines. The airlines have asked for 5G in the C Band to be banned within two miles of airport runways, a limitation that will severely reduce availability of the service in some cities.

more news about:

Comments

This forum is closed.

This forum is closed.

timvideo

Mar 28, 2013, 10:03 PM

why finance clearwire

Sprint needs to cut clearwire off and choke them, stupid investors have their head in their rear on what they think clearwire is worth, if sprint quit pouring financial assistance in clearwire it would cease to exist

Phineas

Because this buys them more access into CLWR and therefore more ability to take over the company. This move just closely aligns CLWR with Sprint's deal vs. Dish's offer (which isn't a real offer anyway).

Page 1 of 1