Clearwire (CLWR) Closes Public Offering of 201M Shares, Receives $384M in Proceeds
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Clearwire Corporation (Nasdaq: CLWR)announced today that it has closed its public offering (the "offering") of 201,250,000 shares of Class A common stock at $2.00 per share originally announced on December 5, 2011, comprised of 175,000,000 shares of Class A common stock initially offered and an additional 26,250,000 shares of Class A common stock sold pursuant to the underwriters' exercise of their over-allotment option. The successful offering will provide Clearwire with net proceeds of $384.1 million, after underwriters' discounts and commissions.
In addition, Sprint has exercised its preemptive rights to purchase 173,635,000 shares of Class B Common Stock and a corresponding number of Class B units in Clearwire Communications LLC, which will provide Clearwire with an additional $331.4 million in net proceeds. The total net new capital available to Clearwire following today's closings is $715.5 million.
In addition, Sprint has exercised its preemptive rights to purchase 173,635,000 shares of Class B Common Stock and a corresponding number of Class B units in Clearwire Communications LLC, which will provide Clearwire with an additional $331.4 million in net proceeds. The total net new capital available to Clearwire following today's closings is $715.5 million.
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