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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

December 5, 2011 at 2:28 PM

Clearwire’s new offering: $300 million worth of stock

Clearwire today announced that it’s going to offer $300 million of its class A common stock, to raise money for the advanced LTE network it’s building in 2012.

The stock announcement follows last week’s agreement with Sprint to provide up to $1.6 billion to Bellevue-based Clearwire to continue providing 4G WiMax service through 2015 and start offering LTE in densely populated areas with heavily burdened wireless networks.

Underwriters have an option to buy additional class A common stock worth up to $45 million.

J.P. Morgan, Merrill Lynch and Jefferies & Company are handling the offering.

Clearwire stock fell in after-hours trading after the stock offering was announced. At last check it was down about 3 percent to $2.19, after closing up 5 percent at $2.25.

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