NextWave Wireless (WAVE) Raises $100 Million in New Capital
NextWave Wireless Inc. (NASDAQ: WAVE) announced that it has raised $100 million in new financing through the issuance of senior-subordinated secured second-lien notes ("Notes") to Avenue Capital Management II, L.P. and SOLA.
Interest on the Notes will be payable quarterly at a rate of 14 percent per annum through the issuance of additional Notes, and in cash after the repayment of NextWave's existing senior secured notes.
NextWave Wireless provides next-generation mobile multimedia and wireless broadband technologies to the world's leading mobile handset manufacturers, consumer electronics manufacturers and wireless service providers.
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