Clearwire Will Seek $300 Million Stock Offering To Help Expand LTE Deployment


Mobile data provider Clearwire is preparing to offer $300 million in Class A stock as a public offering in the hopes of further funding their LTE deployment plans.

Reports are also pointing to another 30-day option in which underwriters will be able to purchase $45 million in additional Class A shares.

News of the stock option offering comes after an ongoing dispute with Sprint appears to be winding down. Sprint, the company’s majority shareholder agreed to pay the service nearly $1 billion for WiMAX service and committed $700 million in additional funds if Clearwire is able to prove their ability to raise outside resources.

According to Muultichannel Sprint Nextel has agreed to purchase Class B shares in order to maintain its 49.6% voting interest in the company.

The announcement comes just a short time after both Sprint and Clearwire announced plans to deploy LTE offerings in order to compete with AT&T Wireless and Verizon Wireless.

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