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Clearwire Banks Another $734 Million

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Dec 14, 2011, 8:54 AM by Eric M. Zeman

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.

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