Clearwire (CLWR) Shares Rallying as Sprint (S) Notes Offering Will Be Used to Fund Clearwire
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Shares of Clearwire (Nasdaq: CLWR) are on the move Friday morning following news out of Sprint (NYSE: S) the company will offer notes due 2021 and notes due 2018 in a private transaction. Sprint has said the proceeds will be used "for general corporate purposes, which may include, among other things, redemptions or service requirements of outstanding debt, network expansion and modernization and potential funding of Clearwire Corporation, and its subsidiary, Clearwire Communications LLC."
Shares of Clearwire last traded at $2.16, up about 23 percent from Thursday's closing price.
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Shares of Clearwire last traded at $2.16, up about 23 percent from Thursday's closing price.
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