Clearwire shareholders and customers can breathe a sigh of relief now.
The wholesale 4G network provider said today it raised $734 million in its latest stock offering, shoring up its cash position just as it was facing potential issues meeting its financial obligations. The funds include $402.5 million from the stock offering, and another $331.4 million from Sprint Nextel, its largest customer and shareholder.
The funding prevented Clearwire from potentially missing out on a debt payment, a threat the company laid out publicly during its negotiations with Sprint. The company initially planned a $300 million stock offering, but … Read more